Which One of the Following Is Not a Requirement of a Deferred

question 37

Multiple Choice

Which one of the following is not a requirement of a deferred like-kind exchange?

• A)The like-kind property to be received must be identified within 45 days.
• B)The exchange must be completed within the taxable year.
• C)The like-kind property must be received within 180 days.
• D)The exchanged property must be like-kind.
• E)All of the choices are correct.

---

Definitions:

Magnetic Tapes

A medium for magnetic recording, made of a thin magnetizable coating on a long, narrow strip of plastic film, used for data storage and backup.

Organizations

Entities comprised of multiple people working together towards a common goal or purpose, often structured in a way to manage resources, processes, and responsibilities.

ALU

Arithmetic Logic Unit (ALU) is a critical component of a computer's processor that performs all arithmetic and logical operations within the computer.

Microprocessor

A compact integrated circuit designed to perform the operations and functions of a computer's central processing unit (CPU).