Which of the following statements is FALSE?

Group of answer choices

A. In order for corporate distributions to qualify as a partial liquidation under IRC 302(b)(4), the liquidating distributions must be made pro-rata in accordance with each shareholder's stock ownership percentage.

B. Generally to qualify as a partial liquidation, the distribution must result in a bona fide contraction of the corporate business at the corporate level (not the shareholder level).

C. One safe harbor the taxpayer may rely on to qualify as a partial liquidation is to discontinue one business while simultaneously continuing another trade or business which the corporation had conducted for a period of more than 5 years prior to the date of the stock redemption.

D. A & C are BOTH FALSE.

E. ALL of the above statements are TRUE.