Which One of the Following Qualifies as a Like-Kind Exchange

question 108

Multiple Choice

Which one of the following qualifies as a like-kind exchange?

• A)A chicken held by a farmer exchanged for medical services.
• B)A home owned and lived in by a taxpayer exchanged for a new personal residence.
• C)IBM stock exchanged for Exxon stock.
• D)Land used in business traded in for a different parcel of land also for business use.
• E)None of the above are like-kind property.

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Definitions:

Actual Behaviours

The real actions exhibited by individuals, as opposed to their intentions or beliefs.

Phone Interviews

A method of conducting an interview or gathering information over the telephone.

Practise

The act of repeatedly performing an activity or exercise to acquire or maintain proficiency in it.

Qualifications

Credentials or achievements demonstrating one's ability or suitability for a particular job or task.