Match the Following Items with the Statements That Follow

question 7

Multiple Choice

Match the following items with the statements that follow. Terms may be used more than once.
-Flower Corporation is owned by Carry and Kim. All of Carry's stock value of $200,000) is exchanged for $200,000 in bonds. Kim exchanges no stock in the transaction.

• A)Boot
• B)Business credits
• C)Capital gain
• D)Continuity of business enterprise
• E)Continuity of interest
• F)Dividend
• G)Discount rate
• H)Earnings and profits
• I)Federal long-term tax-exempt rate
• J)Liability assumption
• K)Ordinary gain
• L)Ownership change
• M)Section 382 limitation
• N)Sound business purpose
• O)Step transaction

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Definitions:

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A model that describes human personality using five broad traits: openness, conscientiousness, extraversion, agreeableness, and neuroticism.

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