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.

Describe the limitations of modifying circularity tolerance on an MMC basis.

Differentiate circularity from straightness in the context of geometric dimensioning.

Identify symbols used in geometric dimensioning and tolerancing to represent form tolerances (such as cylindricity and flatness) and their meanings.

Understand the concept of overall flatness and local flatness within the surface flatness context.

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Definitions:

Rifting

the process by which the Earth's crust breaks apart, often leading to the formation of new ocean basins.

Red Sea

A narrow sea between the northeastern African continent and the Arabian Peninsula, known for its extensive coral reefs and intense blue waters.

Thrust Sheets

Large scales of rock that have been moved over one another by compressive forces during tectonic movements, often resulting in folded and faulted landforms.

Zagros Mountains

A mountain range in Iran, characterized by its rich history of geological activity including orogeny and seismic activity.