Identify Which of the Following Is False

question 11

Multiple Choice

Identify which of the following is false.

• A)Corporations that sell real property at a gain must report an additional 20% of the entire gain as ordinary income.
• B)Corporations selling real property that previously had been depreciated using an accelerated method are subject to Sec. 291.
• C)Section 291 reduces the amount of net Sec. 1231 gains that can be offset by corporate capital losses.
• D)Section 291 recapture applies to Sec. 1250 property.

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Definitions:

Sales Proposal

A written offer from a seller to a prospective buyer, detailing the products or services offered and the terms under which the seller is willing to supply them.

Costs

The amount of money required for the production, acquisition, or maintenance of goods and services.

Business Proposal

A document designed to offer specific goods or services to a prospective client or partner.

Budget

An estimate of income and expenditure for a set period of time, often used as a plan for managing financial resources.