Final answer:
Reduction is the gain of electrons, and oxidation is the loss of electrons. They occur simultaneously in redox reactions. The reactant that is oxidized is the reducing agent, not the oxidizing agent.
Step-by-step explanation:
When determining which statements are correct regarding redox reactions, it's crucial to understand the fundamental concepts of oxidation and reduction.
Statement A is correct: Reduction is the gain of electrons.
Statement B is also correct: Oxidation and reduction reactions always occur simultaneously; this linked occurrence is known as redox reactions.
Statement C is incorrect as it contradicts statement A — reduction is not the loss of electrons.
Statement D is correct: Oxidation is indeed the loss of electrons.
Lastly, statement E is incorrect because the reactant that is oxidized is known as the reducing agent, not the oxidizing agent. The oxidizing agent is actually the reactant that is reduced.