When a Liquidating Corporation Pays Off an Unsecured Debt Obligation

question 98

Multiple Choice

When a liquidating corporation pays off an unsecured debt obligation,

• A)the corporation recognizes no gain or loss if it uses appreciated property.
• B)the corporation recognizes no gain or loss if it uses cash.
• C)the corporation recognizes any gains but not losses realized.
• D)the corporation recognizes losses but not gains realized.

---

Definitions:

Collective Efficacy

The shared belief within a group in their collective power to achieve objectives or produce desired outcomes.

Collective Efficacy

The shared belief in a group’s capabilities to organize and execute the courses of action required to achieve given levels of attainment.

Task Cohesion

The degree to which group members work together in a coordinated and cooperative manner toward a common goal.

Collective Emotions

Emotions that are shared or experienced by a group of people, which often emerge during significant social events or movements.