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What effect does the assumption of liabilities by the corporation normally have on gain or loss recognition and stock basis determination by a transferring shareholder in a Section 351 transfer?
Glass-Steagall Act
A law enacted in 1933 to separate commercial banking from investment banking, aimed at reducing conflicts of interest and preventing future financial crises.
Credentialed Public Accountant
A licensed accounting professional who has met certain education and experience requirements and passed a qualifying exam.
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