Which of the Following Is/are Correct Regarding the Deferral of Gain

question 45

Multiple Choice

Which of the following is/are correct regarding the deferral of gain attributable to the involuntary conversion of personal property (personality) ?
I.Gain deferral is mandatory.
II.Replacement property must be acquired within one year of the close of the tax year in which gain is realized from an involuntary property damage conversion.
​

• A)Only statement I is correct.
• B)Only statement II is correct.
• C)Both statements are correct.
• D)Neither statement is correct.

---

Definitions:

Job Satisfaction

Relates to the level of contentment employees feel about their job, which is influenced by various factors including work conditions, compensation, growth opportunities, and recognition.

Systematic Study

A structured and methodical approach to inquiry and knowledge acquisition, often involving empirical research and analysis.

Leadership Behaviour

Actions taken by a leader to influence or guide a group towards achieving its goals.

Initiating Structure

A leadership behavior that organizes and defines what group members should be doing to maximize output.