Which of the Following Characteristics Is the Same for Transfers

question 53

Multiple Choice

Which of the following characteristics is the same for transfers of property to both a corporation and to a partnership in exchange solely for an ownership interest?

• A)The transferors must have control of the corporation or partnership after the transfer.
• B)Liabilities assumed affect the owner's basis in the entity's business in the same manner.
• C)Loss is not recognized.
• D)The holding period for all the assets transferred begins on the date of the transfer.
• E)None of the characteristics are the same for both entities.

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Definitions:

Peristalsis

The series of wave-like muscle contractions that moves food through the digestive tract.

Starch Digestion

The process by which the body breaks down starch into simpler sugars, primarily through the action of enzymes like amylase.

Taste

Sensations created when a chemical stimulus is applied to the taste receptors in the tongue.

Intrinsic Muscles

Muscles located within the structure being moved.