Which of the Following Statements Is True Concerning the Disposition

question 66

Multiple Choice

Which of the following statements is true concerning the disposition of an installment note?

• A)Deferred gain is not recognized by the transferor if the installment note is a non-taxable transfer to a controlled corporation.
• B)Deferred gain must be recognized only if the installment note was transferred as a gift to a related party.
• C)Transfer of an installment obligation to another party will not trigger immediate recognition of deferred gain.
• D)Deferred gain must be recognized if the note is transferred to the owner's estate at his death.
• E)None of these.

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Definitions:

Intra-team Rivalry

Competition that occurs within a team, where members may compete against each other for recognition, resources, or status.

External Locus

The belief that one's outcomes are due to external forces or circumstances beyond one's control.

Virtual Team

A group of individuals who work together from different geographic locations, using technology to communicate and collaborate.

Skype

A telecommunications application software that provides video chat and voice call services, along with messaging and file sharing features over the internet.