Realized gain or loss must be recognized unless a specific Code section provides for nonrecognition treatment.
Answer the following statement true (T) or false (F)
True
Unless a provision in the tax law provides an exclusion of gain, a disallowance of loss or a deferral of either, a realized gain or loss will be recognized.
You might also like to view...
Which of the following is a major function of marketing research?
A) develop the budget for a promotional program B) scan for opportunities and threats C) develop a marketing strategy D) conduct industrial espionage
When is it advisable to predominantly use sales promotions in a promotion mix?
What will be an ideal response?
During a business lunch with a client, a colleague calls with bad news about another project. You should
a. answer the call at the table and discuss the situation without leaving the table. b. answer the call at the table, listen to the news calmly, and tell your colleague you will call him back later. c. excuse yourself from the table, take the call somewhere unobtrusive, handle anything you can handle quickly, and then tell your colleague you will call him back later. d. let the phone continue to ring at the table without answering.
In this chapter, you examined several short-term managerial decision tasks. Identify (list) any three of these types of decision tasks: ________; ________; ________
What will be an ideal response?