On June 10, 2014, Ebon, Inc

question 42

Multiple Choice

On June 10, 2014, Ebon, Inc. acquired an office building as a result of a like-kind exchange. Ebon had given up a factory building that it had owned for 26 months as part of the like-kind exchange. Which of the statements below is correct?

• A) The holding period of the factory building includes the holding period of the office building.
• B) The holding period of the office building starts on June 11, 2014.
• C) The holding period of the office building starts on June 10, 2014.
• D) The holding period of the office building includes the holding period of the factory building.
• E) None of the above.

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Definitions:

White Pulp

Lymphatic tissue in the spleen composed mainly of lymphocytes and responsible for the immune response.

Thoracic Duct

The thoracic duct is the largest lymphatic vessel in the human body, transporting lymph and chyle from the lymphatic system into the bloodstream.

Right Upper Limb

The segment of the human body that extends from the right shoulder to the fingertips, comprising the arm, forearm, and hand.

Pelvis

The lower part of the torso, in the human body, encasing the reproductive organs and part of the bowel.