Match the Following Statements

question 86

Multiple Choice

Match the following statements.
-Sale of the individual assets of an unincorporated sole proprietorship by the owner.

• A)Transaction in this form enables double taxation to be avoided.
• B)Gain or loss is calculated separately for each asset and is subject to single taxation.
• C)This is subject to double taxation.
• D)The sale is treated as the sale of a capital asset under § 741 but subject to ordinary income potential under §
• 751.
• E)This is not subject to double taxation on the sale of corporate stock.

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Definitions:

Recall

The ability to retrieve information from memory without the aid of cues.

Recognition

The process of identifying a thing or person from previous encounters or knowledge.

Relearning

The process of learning material or skills that were previously learned and then forgotten.

Memorize

The process of committing something to memory or learning it by heart.