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:

Stripping

In medical contexts, a technique used to clear obstructed veins or catheters by applying firm pressure along the vessel or tubing.

Chest Tube System

A medical device used to remove air, fluid, or pus from the pleural space to prevent collapsed lung or other respiratory complications.

Bubbling Stops

Refers to the cessation of bubbling in a fluid, often indicating a change in pressure or the completion of a chemical process.

Drainage Tubing

Flexible tubes used in medical settings to remove fluids from the body or a wound area, aiding in recovery and healing.