Which One of the Following Is Not True Regarding a Like-Kind

question 23

Multiple Choice

Which one of the following is not true regarding a like-kind exchange?

• A)Loss on like-kind property is not recognized.
• B)Gains on boot given are deferred.
• C)Losses on boot given are not recognized.
• D)Land can be like-kind with a building.
• E)All of the choices are true.

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Definitions:

Fed

In the United States, the Federal Reserve System serves as the central banking authority, charged with the management of monetary policy.

Bonds

Fixed-income investments representing a loan made by an investor to a borrower, often used by companies, municipalities, states, and sovereign governments to finance projects and operations.

Leverage Ratio

A financial metric used to assess a company's ability to meet its financial obligations, calculated as the ratio of its total debt to its equity, assets, or other benchmarks.

Bank Capital

The financial resources held by a bank that acts as a cushion against potential losses, consisting of equity, retained earnings, and other reserves.