Which of the Following Statements Best Describes a Section 338

question 10

Multiple Choice

Which of the following statements best describes a section 338 transaction?

• A) A section 338 transaction is an election made by the buyer to treat a stock acquisition as an asset acquisition.
• B) A section 338 transaction is an election made by the buyer to treat an asset acquisition as a stock acquisition.
• C) A section 338 transaction is an election made by the seller to treat a stock acquisition as an asset acquisition.
• D) A section 338 transaction is an election made by the seller to treat an asset acquisition as a stock acquisition.