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Mr. Germotte has two offers to purchase his wholly owned corporation, one for all of...

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Accounting

Mr. Germotte has two offers to purchase his wholly owned corporation, one for all of the property
and another for all of the shares. In considering the offer to purchase all of the property, which of
the following is correct?
The sale of corporate property will avoid a wind-up.
Mr. Germotte can take advantage of the capital gains deduction if the shares of the
corporation qualify.
The corporation may be subject to income taxes on business income and capital gains.
Mr. Germotte may be subject to income taxes on business income and capital gains.
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