Which of the following statements is false?
A. A realized gain that is never recognized results in the temporary recovery of more than the taxpayer’s cost or other basis for tax purposes.
B. A realized gain on which recognition is postponed results in the temporary recovery of more than the taxpayer’s cost or other basis for tax purposes.
C. A realized loss that is never recognized results in the permanent recovery of less than the taxpayer’s cost or other basis for tax purposes.
D. A realized loss on which recognition is postponed results in the temporary recovery of less than the taxpayer’s cost or other basis for tax purposes.
Answer: A
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Rent expense in Volusia Company's 2017 income statement is $420,000 . If Prepaid Rent was $70,000 at December 31, 2016, and is $95,000 at December 31, 2017, the cash paid for rent during 2017 is:
a. $480,000 b. $445,000 c. $395,000 d. $420,000
How can a presenter establish credibility with the audience?
The BEST approach to network representation of a large and hugely complex project is to:
A) Represent all activities and relationships. B) Simplify network logic and reduce it to the most meaningful relationships. C) Use AOA. D) Use AON.
Milo files a suit against Nick in an Ohio state court, noting that Nick operates a Web site through which Ohio residents have done substantial business with him. The court is most likely to have jurisdiction over Nick if Milo's claim arises from
a. anything an Ohio resident has done. b. Nick's Web site activities. c. nothing an Ohio resident has done. d. something other than Nick's Web site.