Which One of the Following Qualifies as a Like-Kind Exchange

question 19

Multiple Choice

Which one of the following qualifies as a like-kind exchange?

• A)A chicken held by a farmer exchanged for medical services.
• B)A home owned and lived in by a taxpayer exchanged for a new personal residence.
• C)IBM stock exchanged for Exxon stock.
• D)A Dodge Ram pickup truck used in business traded in for a new Ford F-250 pickup truck also intended for business use.
• E)None of the above are like-kind property.

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Definitions:

Wilhelm Wundt

Regarded as the founder of experimental psychology, he established the first psychology laboratory in Leipzig, Germany, in 1879.

John Watson

John Watson was an American psychologist who established the psychological school of behaviorism.

Ivan Pavlov

A Russian physiologist best known for his discovery of classical conditioning during his study of digestive processes.

Psychology

The scientific study of the mind and behavior, encompassing various aspects of conscious and unconscious experience as well as thought processes.