Identify Which of the Following Statements Is True

question 38

Multiple Choice

Identify which of the following statements is true.

• A)When the acquiring corporation makes the Sec. 338 election, the target corporation is treated in many respects as a new corporation.
• B)A Sec. 338 election requires the adoption of the old target corporation's tax year by the new target corporation.
• C)Tax attributes of the target corporation are not lost when a Sec. 338 deemed liquidation election is made.
• D)All of the above are false.

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Definitions:

Punished

The act of administering a negative consequence to reduce the likelihood of a behavior recurring.

Social Learning

The theory that people can learn new behaviors by observing and imitating others.

Professors

Faculty members of a college or university with the responsibility of teaching and research.

Extensions

Additional parts or components added to enhance or expand the functionality or capability of an existing system.