Which of the Following Statements About the Transfer of Debt

question 48

Multiple Choice

Which of the following statements about the transfer of debt in a like-kind exchange is false?

• A) The party relieved of debt treats the relief as boot received.
• B) The party assuming debt treats the assumption as boot paid.
• C) If both properties in the exchange are subject to debt, both parties will be treated as receiving boot.
• D) None of these choices are false.

---

Definitions:

Soul of Union

The core principles, values, and spirit that guide a labor union's operations and its approach to advocating for workers' rights.

Union Representation

The act of labor unions acting as intermediaries between their members and management, negotiating labor contracts, and advocating for workers' rights.

Craft Unionism

A labor movement approach focusing on organizing workers in specific trades or crafts rather than in a single industry or factory.

Industry-Oriented Workforce

A labor force specifically trained or skilled in the needs and operations of a certain industry sector.