Which of the Following Statements Best Describes the Recognition of Loss

question 118

Multiple Choice

Which of the following statements best describes the recognition of loss on property transferred to shareholders in complete liquidation of a corporation?

• A)The liquidated corporation always recognizes loss on the distribution of property in complete liquidation of the corporation.
• B)The liquidated corporation never recognizes loss on the distribution of property in complete liquidation of the corporation.
• C)The liquidated corporation recognizes loss on the distribution of property in complete liquidation of the corporation if the property is distributed to individuals who are not related parties to the corporation.
• D)The liquidated corporation recognizes loss on the distribution of property in complete liquidation of the corporation only if the property is distributed to individuals who are related parties to the corporation.

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Definitions:

Big Data

The collection and analysis of large and complex data sets that traditional data-processing application software are inadequate to deal with.

EDWs

Enterprise Data Warehouses; centralized repositories that store and manage large volumes of structured and unstructured data across an organization.

Analytics

The systematic computational analysis of data or statistics, used for discovering and interpreting patterns, and for decision making.

OLAP

Online Analytical Processing, a category of software tools that provides analysis of data stored in a database.