Identify Which of the Following Statements Is True

question 70

Multiple Choice

Identify which of the following statements is true.

• A)In general, a noncorporate shareholder that receives a distribution in complete liquidation of the liquidating corporation recognizes his or her entire realized gain as a capital gain.
• B)The basis for nonmoney property received by a noncorporate shareholder as part of a liquidating distribution is the same as its basis on the books of the liquidating corporation.
• C)The liquidating corporation does not recognize gains and losses when making a distribution of nonmoney property.
• D)All of the above are false.

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Definitions:

Delay Tactics

Strategies or actions aimed at causing a deferral or postponement in proceedings or decision-making, often used to gain a strategic advantage or simply to stall.

Union Organizing Attempt

Efforts made by labor unions to gain representation rights for workers in a workplace, typically through a formal election process.

Employee Turnover

The rate at which employees leave a company and are replaced by new employees, often used as an indicator of workplace satisfaction and stability.

Certification Election

A formal process conducted by an external body, often a government labor board, in which employees vote to determine whether or not they wish to be represented by a particular labor union.