Which of the following statements is FALSE assuming a Target corporation's assets are PURCHASED for cash and other appreciated property by another corporation?

Group of answer choices

A. The acquiring corporation's basis in the assets purchased will be their cost as allocated under the residual method in accordance with IRC 1060.

B. The tax attributes of the Target corporation will NOT carryover to the purchaser corporation but instead will remain with the Target corporation.

C. The Target corporation will recognize gain or loss on each individual asset sold by allocating the sales price among all the assets sold and subtracting the Target's respective adjusted basis in each asset to determine their gain.

D. If the Target corporation elects to liquidate either before or after the asset sale, no gain or loss is recognized by the Target Corporation.

E. ALL of the above statements are TRUE!