Match the Following Items with the Statements That Follow

question 22

Multiple Choice

Match the following items with the statements that follow. Terms may be used more than once.
-Carries over to new corporations in a split-up reorganization.

• 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:

Case Name

The title or designation of a particular lawsuit involving legal disputes between parties in a court of law.

Case File

A collection of documents, evidence, and records related to a particular legal case.

Equitable Remedy

A form of justice provided by courts in cases where monetary damages are insufficient, such as injunctions or specific performance orders.

Injunction

A court order requiring a party to do or to refrain from doing specific acts.