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:

REM Sleep

A phase of sleep characterized by rapid eye movements, dream vividness, and increased brain activity.

Circadian Rhythms

Biological processes that display an endogenous, entrainable oscillation of about 24 hours, regulating sleep-wake cycles among other bodily functions.

Neurological Disorders

A broad category of conditions that affect the nervous system, including the brain, spinal cord, and nerves, leading to various symptoms and disabilities.

Melatonin

A hormone produced by the pineal gland that regulates sleep and wakefulness.