In a Sec. 338 Election, the Target Corporation

question 60

Multiple Choice

In a Sec. 338 election, the target corporation

• A)will have a holding period for assets beginning on the day after the acquisition date.
• B)must use the preacquisition tax year.
• C)will no longer file a separate return.
• D)is considered to be a continuation of the old target corporation for purposes of the tax attribute carryover rules.

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Definitions:

Human Factors Psychologist

A psychologist specializing in designing products and systems that match human physical and cognitive abilities.

User-friendly

Describes a product or system that is easy to use or navigate, enhancing the overall user experience.

Software

Programs and operating information used by a computer to perform specific tasks.

Job

A position of employment where an individual performs assigned duties, usually in exchange for compensation.