Identify Which of the Following Statements Is False

question 20

Multiple Choice

Identify which of the following statements is false.

• A)A Sec. 338 election usually triggers taxation to the target corporation.
• B)A Sec. 338 election must be made not later than the fifteenth day of the ninth month following the first stock acquisition in a series of acquisitions that leads to 80% or more stock ownership.
• C)When a Sec. 338 election is made, the target corporation is treated as having sold all of its assets at their FMV at the close of the acquisition date.
• D)In a Sec. 338 deemed sale election, the shareholders of the target corporation sell their stock to the acquiring corporation.

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Definitions:

Intercultural Friendship

A friendship that spans across different cultures, offering unique opportunities for cultural exchange and understanding.

Exchange Program

A structured opportunity allowing participants from different geographic or institutional backgrounds to exchange cultural, educational, or professional experiences.

Targeted Socializing

Engaging in social interactions with specific individuals or groups to achieve certain goals or objectives.

Interracial Friendships

Friendships between individuals of different racial backgrounds.