Which of the Following Is Not a Consequence of an Acquisition

question 135

Multiple Choice

Which of the following is not a consequence of an acquisition of control?

• A)A deemed year end.
• B)The inability to deduct non-capital losses subsequent to the acquisition of control.
• C)The inability to deduct net capital losses subsequent to the acquisition of control.
• D)A requirement to write down non-depreciable assets to their fair market value.

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Definitions:

Inheritance

Assets received from someone who has died, transferring wealth or obligations from the deceased to their legal heirs or beneficiaries.

Federal Governments

A system of government where power is divided between a national (federal) government and various regional governments.

Command Economy

A system of economy in which all determinations about the generation and distribution of products and services are made by the state or central authority.

Markets

Places or systems where buyers and sellers interact to trade goods, services, or resources.