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:

Mental Illness

A wide range of mental health conditions that affect mood, thinking, and behavior.

Criminalization Hypothesis

The theory suggesting that societal responses or laws transform certain behaviors or individuals into criminal acts or offenders.

Justice System

The institutional framework for the application of legal processes and statutes designed to enforce legal norms, administer disputes, and punish criminal acts.

Constitutional Right

A right protected by a country's constitution that guarantees certain freedoms and protections to its citizens.