Identify Which of the Following Statements Is True

question 28

Multiple Choice

Identify which of the following statements is true.

• A)A parent corporation cannot liquidate a subsidiary corporation (having but a single class of stock)and avoid recognizing its realized gain unless the parent corporation owns at least 80% of the subsidiary's stock.
• B)The liquidation of a subsidiary corporation must be completed within one tax year to receive nonrecognition treatment.
• C)The provisions permitting a tax-free liquidation of a subsidiary corporation apply to both corporate and noncorporate shareholders of the subsidiary.
• D)All of the above are false.

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Definitions:

Artificial Intelligence

A field of computer science focused on the development of technology that can perform tasks that typically require human intelligence, such as visual perception, speech recognition, decision-making, and language translation.

Autonomous Technology

Technology that can operate or function independently without human intervention.

Network Television

Television channels and programming that are distributed across a network of stations, reaching a wide audience, traditionally through broadcast signals.

Western Union

Historically significant as a telegraph company, Western Union is recognized for its contributions to the development of telecommunication through the sending and receiving of telegrams across long distances.