Identify Which of the Following Statements Is True

question 32

Multiple Choice

Identify which of the following statements is true.

• A)The assignment of income doctrine requires a cash method of accounting for a transferor/shareholder to recognize income when accounts receivable are transferred by the shareholder to the corporation in a Sec. 351 exchange in which no gain is otherwise recognized.
• B)The assignment of income doctrine is a legislative requirement that income be taxed to the person who earns it.
• C)The assignment of income doctrine does not apply if the transferor in a Sec. 351 exchange in which no gain is otherwise recognized transfers when a sole proprietor transfers substantially all the assets and liabilities of the transferor's trade or business to a controlled corporation.
• D)All of the above are false.

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Definitions:

Gender Schemas

Gender schemas are cognitive structures that contain the understanding of the attributes and behaviors that are considered appropriate for males and females in a society.

Secondary Sex Characteristics

Physical features that emerge during puberty unrelated to reproduction, such as breast development in females and facial hair in males.

Gender Identity

A person's own perception of their gender identity, which can align or not with the gender assigned to them at birth.

Gender Roles

Societally constructed roles, behaviors, activities, and attributes that a given society considers appropriate for men and women.