[Solved] Identify which of the following statements is true. A)A loss recognized by a shareholder upon complete liquidation of a corporation may not qualify for ordinary loss treatment if the stock is Sec. 1244 stock. B)The loss that is recognized by an individual shareholder on the liquidation of a corporation is a capital loss, up to certain limits, if the stock is Sec. 1244 stock. C)The loss recognized by a corporate shareholder on the worthlessness of the controlled subsidiary's stock is an ordinary loss. D)All of the above are false. Italian American: A citizen of the United States of American descent who has Italian ancestry, contributing to the cultural and social fabric of American society. Academy Award: Prestigious awards presented annually by the Academy of Motion Picture Arts and Sciences to recognize excellence in cinematic achievements. Paramount: An American film studio and a major player in Hollywood, known for its extensive history, iconic logo, and contribution to cinema over the decades. Porn-Chic: A trend where the aesthetic, themes, or stylistic aspects of pornography are incorporated into mainstream media and fashion.