Identify Which of the Following Statements Is False

question 43

Multiple Choice

Identify which of the following statements is false.

• A) One advantage of a tax- free reorganization is that losses realized as part of a tax- free reorganization are not recognized.
• B) A new loss corporation that does not continue the business enterprise of the old loss corporation during the two- year period beginning on the date of the stock ownership change cannot use the net operating loss carryover.
• C) When determining the use of an NOL carryover following a change of ownership, the old loss corporation and the new loss corporation may be the same for Sec. 382 purposes.
• D) For purposes of Sec. 382, ownership changes are tested any time a 5% shareholder has a stock transaction affecting his ownership.

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Definitions:

Aerobic Exercise

Physical activity that increases the heart rate and promotes increased oxygen consumption throughout the body.

Mild Depression

A form of depression that is less severe than major depression but can still affect a person's daily life, mood, and behavior over an extended period.

Critical Thinking

The intellectually disciplined process of actively and skillfully conceptualizing, applying, analyzing, synthesizing, and/or evaluating information gathered from, or generated by, observation, experience, reflection, reasoning, or communication, as a guide to belief and action.

Informed Consent

Giving potential participants enough information about a study to enable them to choose whether they wish to participate.