Which of the following statements best describes a §338 transaction?
A) A §338 transaction is an election made by the buyer to treat a stock acquisition as an asset acquisition.
B) A §338 transaction is an election made by the buyer to treat an asset acquisition as a stock acquisition.
C) A §338 transaction is an election made by the seller to treat a stock acquisition as an asset acquisition.
D) A §338 transaction is an election made by the seller to treat an asset acquisition as a stock acquisition.
Answer: A