On August 10,2010,Black,Inc

question 132

Multiple Choice

On August 10,2010,Black,Inc.acquired an office building as a result of a like-kind exchange.Black had given up a factory building that it had owned for 18 months as part of the like-kind exchange.Which of the statements below is correct?

• A)The holding period of the office building does not include the holding period of the factory building.
• B)The holding period of the factory building starts on August 11,2010.
• C)The holding period of the factory building starts on August 10,2010.
• D)The holding period of the office building includes the holding period of the factory building.
• E)None of the above.

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