Identify Which of the Following Statements Is True

question 82

Multiple Choice

Identify which of the following statements is true.

• A)The transferor must recapture depreciation when exchanging Sec. 1245 property in all transactions coming under Sec. 351.
• B)A corporation receiving property in a Sec. 351 exchange can select any MACRS depreciation method for the asset.
• C)When depreciable property is transferred to a corporation in a Sec. 351 exchange in which no gain is recognized, the corporation must continue to use the transferor's depreciation method and recovery period for the property.
• D)All of the above are false.

---

Definitions:

Obesity

A medical condition characterized by excessive body fat that presents health risks.

Cross-correlation

A statistical measure that quantifies the extent to which two variables change in relation to each other.

Academic Performance

The extent to which a student, teacher or institution has achieved their short or long-term educational goals.

Recess

A break period during the school day allowing children rest, free play, or eating, essential for their physical and emotional development.