Which of the Following Is Not True of a 338

question 8

Multiple Choice

Which of the following is not true of a 338 election ?

• A) It applies to asset purchases only.
• B) It applies to stock purchases only.
• C) It allows a purchase of stock to be treated as an asset purchase for tax purposes.
• D) The buyer must adopt the 338 election.
• E) The seller must agree with the adoption of the 338 election.

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Definitions:

One Ovum

A single egg cell produced by female reproductive systems; essential for sexual reproduction.

One Sperm

A single male gamete or reproductive cell that combines with the female gamete to form a zygote in sexual reproduction.

Zygotes

The initial cell formed when a new organism is produced by sexual reproduction, resulting from the fusion of an egg and a sperm cell.

Gene Pair

Two genes that occupy the same position on homologous chromosomes and control the same inherited characteristic.