All of the Following Are True Except

question 46

Multiple Choice

All of the following are true except:

• A)A nonsimultaneous exchange may never qualify as a like-kind exchange.
• B)Nonrecognition of gains and losses is mandatory if the exchange is a like-kind exchange.
• C)A loss may be recognized on non-like-kind property (boot)if the taxpayer transfers the boot in an otherwise like-kind exchange.
• D)The holding period of like-kind property received includes the holding period of the property exchanged.

---

Definitions:

GABA Deficiency

A shortage of gamma-aminobutyric acid, a neurotransmitter that inhibits or reduces activity within the nervous system, potentially leading to anxiety or mood disorders.

Obsessive-compulsive Disorder

A chronic mental health condition where people experience unwanted thoughts (obsessions) and repetitive behaviors (compulsions).

Phobia

An intense, irrational fear of specific objects, situations, or activities that can significantly interfere with daily functioning.

Modeling

A method used in psychology to learn new behaviors by observing and imitating others.