Which of the Following Statements Is Not True with Regard

question 946

Multiple Choice

Which of the following statements is not true with regard to like- kind exchanges?

• A) Nonrecognition of gains and losses is mandatory if the exchange is a like- kind exchange.
• B) The holding period of like- kind property received includes the holding period of the property exchanged.
• C) The basis of property received in an exchange is equal to the basis of the property exchanged less the boot received plus the gain recognized and less any loss recognized.
• D) A loss is always recognized if the taxpayer transfers non- like- kind personal- use property (e.g., a personal- use car) in an otherwise like- kind exchange.

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Definitions:

Null Hypothesis

A hypothesis in statistical analysis that suggests no significant effect or relationship between variables, serving as the default position until evidence suggests otherwise.

Rejection

In statistics, typically refers to the act of rejecting the null hypothesis based on the outcome of a statistical test.

Level Of Significance

Refers to the threshold under which the null hypothesis is rejected in statistical testing, commonly denoted by alpha (α).