Identify Which of the Following Statements Is False

question 95

Multiple Choice

Identify which of the following statements is false.

• A) A plan of liquidation must be produced in writing in order to be accepted by the Internal Revenue Service.
• B) A corporation must file an information return with the Internal Revenue Service within thirty days of adopting a resolution to liquidate.
• C) The adoption of a formal plan of liquidation can provide additional benefits under tax laws to the corporation and its shareholders.
• D) The adoption of a plan of liquidation permits a parent corporation a three- year time period to carry out the complete liquidation of its subsidiary.

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Definitions:

Kidneys

Organs that filter waste products from the blood, regulate blood pressure, and maintain electrolyte balance, among other functions.

Hypothalamus

A region of the brain responsible for hormone production and regulation of vital bodily functions, including temperature, hunger, and thirst.

Oxytocin

A hormone released by the pituitary gland that causes increased contraction of the uterus during labor and stimulates the ejection of milk into the ducts of the breasts.

Calcitonin

A hormone produced by the thyroid gland that helps regulate blood calcium levels by lowering them when they are high.