Which of the Following Statements Is Correct

question 143

Multiple Choice

Which of the following statements is correct?

• A) The sale of an unincorporated sole proprietorship is always treated as the sale of the individual business assets.
• B) The sale of a partnership is treated as the sale of the individual assets only if the sales transaction is structured as the sale of the individual assets.
• C) The sale of a corporation is either treated as the sale of the corporate stock or as the sale of the individual assets.
• D) Only a. and b. are correct.
• E) a., b., and c. are correct.

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Definitions:

Free

Not under the control or in the power of another; able to act or be done as one wishes.

Enslaved

Made to work without pay and under threat of violence, deprived of freedom and rights; historically, referring primarily to African Americans in pre-Civil War United States.

First Great Awakening

A series of Christian revivals that swept Britain and its Thirteen Colonies in the Americas during the 1730s and 1740s, leaving a permanent impact on American Protestantism.

Evangelical Denominations

Groups within Christianity characterized by a strong emphasis on the authority of the Bible, the significance of Jesus' death and resurrection, and the imperative of evangelism and conversion.