Acc421_Final_Exam




True

False
 
  Question 3
1 points  
 
If the shareholders of a calendar year C corporation elect S status on April 13, 2007, the election is effective for all of 2007.



True

False
 

 
 
 
1 points  
Realized gain or loss is measured by the difference between the amount realized from the sale or other disposition of property and the property’s adjusted basis at the date of disposition.



True

False
 
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