Which of the following is true of the small offering exemption?
A. Securities coming under this exemption cannot be sold through general selling efforts to the public.
B. Securities coming under this exemption can only be sold to accredited investors.
C. Securities coming under this exemption can only be sold to nonaccredited investors.
D. Securities coming under this exemption have no resale restrictions imposed on them.
Answer: A
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When a donee disposes of appreciated gift property, the recapture amount for the donee is computed by including the recapture amount attributable to the donor.
Answer the following statement true (T) or false (F)
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In most situations involving sales, rights and liabilities are determined by who has the title to the goods.?
Indicate whether the statement is true or false