Identify Which of the Following Statements Is False

question 87

Multiple Choice

Identify which of the following statements is false.

• A)When determining the use of an NOL carryover following a change of ownership, the old loss corporation and the new loss corporation may be the same for Sec. 382 purposes.
• B)A new loss corporation that does not continue the business enterprise of the old loss corporation during the two-year period beginning on the date of the stock ownership change cannot use the net operating loss carryover.
• C)One advantage of a tax-free reorganization is that losses realized as part of a tax-free reorganization are not recognized.
• D)For purposes of Sec. 382, ownership changes are tested any time a 5% shareholder has a stock transaction affecting his ownership.

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Definitions:

Genetic Vulnerability

A predisposition to certain conditions or diseases based on one's genetic makeup, which may increase the risk of developing these conditions.

Critical and Hostile

Describes an attitude or behavior that is openly antagonistic, judgmental, or unfriendly towards others.

Autism Spectrum Disorder

A variety of conditions related to brain development that manifest through difficulties in social interaction, repetitive actions, and issues with verbal and nonverbal communication.

Genetic Factors

Inherited traits from one's biological parents that influence various aspects of an individual's physical and behavioral characteristics.