30. What is the rationale for the specific rules C corporations must follow in d

Question

30. What is the rationale for the specific rules C corporations must follow in determining a taxable year- end? To increase the amount of aggregate tax deferral shareholders receive To minimize the amount of aggregate tax deferral shareholders receive There are no specific rules for a C corporation year end. A. D. To spread the workload of CPAs more evenly over the year E. To minimize the amount of aggregate tax deferral the corporation receives. Assumption of a liability is considered the same as: A. Cash DBoth A&B; B. Property C.Stock E. None of the above. 32. Attribution rules are mainly applied in the following circumstances: I. Ownership of entities for tax purposes I1. Related party transactions I1I. Covered in Section 267 b. 1 and I1 c. Il and I1. All of the above e. Combination not listed Type A mergers normally involve I. Entities forming a third Il. Can be "forward" triangular mergers Iand II. Combination not listed b. c. c. Iand 11I d. All of the above e

Explanation / Answer

30) Option B. To minimize the amount of aggregate tax deferral partners receive.

31) Option D. Both Cash and Property

32) Option A. Ownership of entities for tax purposes.

33) Option D. All of the above. After seeing the corrections you mentioned, D is the correct answer.

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