Control as It Relates to a Section 351 Transaction Is

question 63

True/False

Control as it relates to a section 351 transaction is strictly defined to be 80 percent or more of the voting power of the stock of the corporation to which property is transferred.

---

Definitions:

Body Fluids

Liquids produced by the body that have various functions, including blood, saliva, and digestive juices.

Chemical Communication Systems

The transfer of information among organisms through the release and reception of chemical signals.

Blood

A vital fluid in humans and animals that delivers necessary substances such as nutrients and oxygen to cells and transports metabolic waste products away.

Black Bile

One of the four humors in ancient and medieval medicine, believed to be associated with melancholy when present in excess.