Each of the Following Is True of Deferral of Gain

question 1961

Multiple Choice

Each of the following is true of deferral of gain attributable to the involuntary conversion of personal property with the exception of

• A) qualifying replacement property must be acquired within a specified time period.
• B) gain deferral is elective, except for direct conversions.
• C) the replacement property may be acquired by gift, inheritance, or purchase.
• D) replacement property must be similar or related in service or use to the converted property.

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Definitions:

Organisational Capabilities

The collective skills, competencies, and resources that enable an organization to execute strategies and achieve its goals.

Working Alone

The act of completing job tasks and responsibilities without the direct involvement of other individuals.

Social Loafing

The tendency of some people to avoid responsibility by ‘free‐riding’ in groups.

Poor Work Ethics

The lack of commitment to professionalism and responsibility in the workplace, often resulting in substandard work performance.