Identify Which of the Following Statements Is True

question 39

Multiple Choice

Identify which of the following statements is true.

• A) Tax attributes of the target corporation are not lost when a Sec. 338 deemed liquidation election is made.
• B) A Sec. 338 election requires the adoption of the old target corporation's tax year by the new target corporation.
• C) When the acquiring corporation makes the Sec. 338 election, the target corporation is treated in many respects as a new corporation.
• D) All of the above are false.

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Definitions:

Labor Unions

Employee organizations formed to deal with employers for achieving better pay, hours, and working conditions.