Identify Which of the Following Statements Is True

question 70

Multiple Choice

Identify which of the following statements is true.

• A)In general, a noncorporate shareholder that receives a distribution in complete liquidation of the liquidating corporation recognizes his or her entire realized gain as a capital gain.
• B)The basis for nonmoney property received by a noncorporate shareholder as part of a liquidating distribution is the same as its basis on the books of the liquidating corporation.
• C)The liquidating corporation does not recognize gains and losses when making a distribution of nonmoney property.
• D)All of the above are false.

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Definitions:

Sexism

Discrimination or bias against people on the basis of their gender.

Classroom

A room or space, typically in a school, where teaching and learning activities take place.

Stereotype

Oversimplified and generalized beliefs about a particular group of people or things, often leading to prejudiced attitudes and actions.

Internal

Pertaining to or situated within something; intrinsic, coming from the inside.