Identify Which of the Following Statements Is True

question 90

Multiple Choice

Identify which of the following statements is true.

• A)The loss realized on the sale of a property is disallowed when such property was received by a corporation as a contribution of capital in a transaction having as its principal purpose the recognition of loss pursuant to the corporation's subsequent liquidation later in the same taxable year.
• B)Losses claimed in a tax return filed before the adoption of the plan of liquidation are not restricted by Sec. 336(d)(2).
• C)Properties acquired by a liquidating corporation as a capital contribution occurring within three years of the adoption of a plan of liquidation are generally presumed to have a tax avoidance motive.
• D)All of the above are false.

---

Definitions:

Genetic Information

Data regarding an individual's genes, gene mutations, or family genetic history, often used in predicting health issues and personal traits.

Behaviour

The actions or reactions of an individual or system in response to external or internal stimuli.

Nervous System

The complex network of nerve cells and fibers that transmits nerve impulses between parts of the body, coordinating actions and sensory information.

Endocrine System

The endocrine system is an intricate network of glands and hormones that regulates many of the body's functions, including growth, metabolism, and reproduction.