Which of the Following Principles Does Not Need to Be

question 91

Multiple Choice

Which of the following principles does not need to be satisfied for an acquisition to be a tax-deferred reorganization?

• A) Business purpose.
• B) Continuity of business enterprise.
• C) Continuity of interest.
• D) Continuity of purpose.

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Definitions:

Compromise of 1850

A series of congressional laws intended to settle the issues arising from the expansion of slavery into new territories, aiming to ease tensions between the North and South.

Kansas-Nebraska Act

Legislation passed in 1854 that allowed the territories of Kansas and Nebraska to decide for themselves whether or not to allow slavery within their borders, leading to violent conflict.

John C. Calhoun

A prominent American politician and political theorist from South Carolina, known for his strong defense of slavery and advocating for states' rights.

Transcontinental Railroad

A railroad system that crosses a continental landmass, notably the first such railroad completed in the United States in 1869, connecting the Atlantic and Pacific coasts.