If Related Parties Complete a Qualified Like-Kind Exchange, How Long

question 96

Multiple Choice

If related parties complete a qualified like-kind exchange, how long must the parties wait before disposing of the property exchanged to insure that any realized gain on the transfer is not recognized?

• A)No waiting.
• B)30 days.
• C)6 months.
• D)1 year.
• E)2 years.

---

Definitions:

GNI Per Capita

Gross National Income per capita is a measure dividing the country's GNI by its population, providing an average economic income per person.

Purchasing Power

The quantity and quality of goods and services that can be bought with a unit of currency.

Birth Rates

The number of live births per thousand of the population per year, a key demographic indicator.

Developing Countries

are nations with lower levels of socioeconomic development, characterized by lower income, less industrialization, and poorer health and educational statuses.