Which of the following statements best describes the concept of

control

as it applies to

a section 351 transaction?

A) Control is defined as the ownership of 80 percent or more of the fair market value

of a corporation's stock.

B) Control is defined as the ownership of 80 percent or more of a corporation's

voting stock and 80 percent or more of the total number of shares of each class of

nonvoting stock.

C) Control is defined as the ownership of 80 percent or more of a corporation's

voting stock and 80 percent or more of the fair market value of a corporation's

stock.

D) Control is defined as the ownership of 80 percent or more of a corporation's

voting stock.