Identify Which of the Following Statements Is False

question 59

Multiple Choice

Identify which of the following statements is false.

• A)Liquidating distributions made to minority shareholders in the tax-free liquidation of a controlled subsidiary corporation are treated by the liquidating corporation in the same way as nonliquidating distributions.
• B)Sec. 337(a)provides that the liquidating corporation recognizes no gain or loss on the distribution of property to the 80% distributee in a complete Sec. 332 liquidation.
• C)The depreciation recapture provisions in Secs. 1245 and 1250 override the Sec. 337(a)nonrecognition rule if a controlled subsidiary corporation is liquidated into its parent corporation.
• D)A corporation that distributes the stock of a subsidiary may elect to treat the distribution as a sale of the subsidiary's assets.

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Definitions:

Parkinson Disease

A neurodegenerative disorder affecting movement, often characterized by tremors, stiffness, and balance difficulties.

Glutamate

An important neurotransmitter in the brain involved in learning and memory, acting as a key excitatory molecule in the central nervous system.

Migraine Headaches

A neurological condition characterized by intense, debilitating headaches, often accompanied by nausea, vomiting, and sensitivity to light and sound.

Seizures

A sudden, uncontrolled electrical disturbance in the brain, potentially causing changes in behavior, movements, feelings, and levels of consciousness.