Match Each Statement with the Correct Term Below

question 23

Multiple Choice

Match each statement with the correct term below.
-Boot

• A)Losses are never deferred.
• B)Must be real property used for business or as a investment.
• C)Not considered like-kind property.
• D)A taxpayer can have only one at a time.
• E)The maximum amount that can be recognized on a like-kind exchange.
• F)This type of exchange must be completed within 180 days of first property transfer.
• G)The concept upon which the ability to defer gains on certain nontaxable transactions relies.

---

Definitions:

Par Value

The nominal or face value assigned to a share of stock or bond, typically used in accounting as a base value rather than market value.

Dividend Liability

Refers to the amount a company owes to its shareholders after the board of directors declares a dividend but before the company has actually paid it.

Date of Declaration

The specific date on which a company's board of directors announces its intention to pay a dividend to shareholders.

Cumulative Preferred Stock

A type of preferred stock where dividends accumulate if not paid in a given year, and must be paid out before common stock dividends.