Identify Which of the Following Statements Is False

question 20

Multiple Choice

Identify which of the following statements is false.

• A)A Sec. 338 election usually triggers taxation to the target corporation.
• B)A Sec. 338 election must be made not later than the fifteenth day of the ninth month following the first stock acquisition in a series of acquisitions that leads to 80% or more stock ownership.
• C)When a Sec. 338 election is made, the target corporation is treated as having sold all of its assets at their FMV at the close of the acquisition date.
• D)In a Sec. 338 deemed sale election, the shareholders of the target corporation sell their stock to the acquiring corporation.

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Definitions:

Drug Use

The act of consuming chemical substances for recreational, therapeutic, or performance-enhancing purposes.

Civic Lessons

Educational activities or instructions that focus on the rights and duties of citizens in society.

Mexican Immigrants

Individuals from Mexico who move to another country, often for reasons such as employment, education, or to escape violence, contributing to the demographic and cultural makeup of the new location.

La Jaula de Oro

A term often translated as "The Golden Cage," can refer to a situation or condition that offers wealth or benefits but restricts freedom or happiness. It is also the title of a song and a film addressing migration issues.