Which One of the Following Is Not True Regarding a Like-Kind

question 9

Multiple Choice

Which one of the following is not true regarding a like-kind exchange?

• A) Loss on like-kind property is not recognized.
• B) Gains on boot given are deferred.
• C) Losses on boot given are not recognized.
• D) Securities can be like-kind with any other securities.
• E) All of the choices are true.

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Definitions:

Type B

refers to a personality type characterized by less competitive, more relaxed, and less easily stressed attitudes than Type A.

Hostility

A state of antagonism, anger, or aggression toward others, which can manifest in both emotional and behavioral aspects.

Impatience

A lack of patience; irritation with anything that causes delay.

Happiness

A state of well-being and contentment characterized by emotions ranging from satisfaction to intense joy.