Identify Which of the Following Statements Is True

question 70

Multiple Choice

Identify which of the following statements is true.

• A)The definition of stock under Sec. 351 includes stock rights and warrants.
• B)The receipt of property other than stock by the transferor will trigger the recognition of gain or loss under Sec. 351.
• C)The character of the gain recognized by the transferor when boot is received in a Sec. 351 transaction depends on the type of boot received.
• D)All of the above are false.

---

Definitions:

Significant Figures

The number of digits in a value that contribute to the precision of that value.

Significant Figures

The number of meaningful digits used to express a value accurately in measurements and calculations.

Accuracy

The degree to which the result of a measurement, calculation, or specification conforms to the correct value or a standard.

Precision

The degree to which repeated measurements under unchanged conditions show the same results.