Each of the Following Is True of Deferral of Gain

question 3

Multiple Choice

Each of the following is true of deferral of gain attributable to the involuntary conversion of personal property with the exception of

• A)gain deferral is elective,except for direct conversions.
• B)the replacement property may be acquired by gift,inheritance,or purchase.
• C)qualifying replacement property must be acquired within a specified time period.
• D)replacement property must be similar or related in service or use to the converted property.

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Definitions:

Behavior Change

A process through which individuals modify their actions or reactions to achieve a specific health, social, or personal goal.

Intervention Strategy

A planned set of actions aimed at influencing change in individuals or systems, often used in health, education, and social policy.

Levels

Graduated series or stages of complexity, quantity, or importance.

Evaluate

To assess or judge the value, quality, or significance of something through careful examination.