【正文】 181 CHAPTER 18 CORPORATIONS: ORGANIZATION AND CAPITAL STRUCTURE Instructor: The test items in both the print Test Bank and ExamView testcreation software are numbered by question type within each chapter. Thus, users of ExamView can more easily preview their selections using the printed Test Bank in the same numbering system. Status: Q/P Question/ Present in Prior Problem Topic Edition Edition TRUE OR FALSE 1 Section 351 and likekind exchanges pared: New justification 2 Section 351 and likekind exchanges pared Unchanged 2 3 Realized loss on transfer to corporation under 167。 351 Unchanged 3 4 Tax treatment of boot received in 167。 351 transaction Unchanged 4 when transferor has a realized loss 5 Recognition of losses under 167。 351 New 6 Gain recognition in a 167。 351 transaction Unchanged 6 7 Tax treatment of boot received in 167。 351 transaction。 Unchanged 7 nature of gain recognized 8 Impact of transferring property in return for stock New 9 Treatment of installment obligation as ―property‖ New under 167。 351 10 Secret process and patent as ―property‖ under 167。 351 Unchanged 9 11 Services as ―property‖ under 167。 351 Unchanged 11 12 Definition of ―stock‖ under 167。 351 Unchanged 12 13 Tax effect of receiving boot in a 167。 351 transaction New 14 Receipt of nonqualified preferred stock in 167。 351 Unchanged 13 transaction 15 Person receiving stock for both property and services Unchanged 15 as member of control group 16 Control required in a 167。 351 transaction Unchanged 16 17 Effect of momentary control in 167。 351 transaction Unchanged 17 18 Subsequent transfer of shares received in 167。 351 New transaction 19 Person who performs services as member of control Unchanged 19 group 182 2020 Comprehensive Volume/Test Bank Status: Q/P Question/ Present in Prior Problem Topic Edition Edition 20 Use of 167。 351 not limited to formation of the corporation Unchanged 20 21 Taxation of ―boot‖ under 167。 357(b) Unchanged 21 22 Transfer of personal liabilities Unchanged 22 23 When does a liability exceed basis Unchanged 23 24 Reason why excess liabilities trigger gain New 25 Effect of application of both 167。167。 357(b) and (c) in a Unchanged 25 167。 351 transaction 26 Transferor shareholder’s basis of stock received in Unchanged 26 167。 351 transaction when transferred property is subject to mortgage 27 Basis of stock received in 167。 351 transfer New 28 Basis of stock received in 167。 351 transfer Unchanged 28 29 Basis of property to transferee corporation in New 167。 351 transaction 30 Treatment to corporation when issuing stock New for services 31 Holding period of stock received in 167。 351 transfer Unchanged 31 32 Corporation’s holding period in 167。 351 transfer Unchanged 32 33 Holding period of stock received by a corporation Unchanged 33 in 167。 351 transfer 34 Treatment of depreciation recapture potential in Unchanged 34 a 167。 351 transfer 35 Capital contribution by nonshareholder Unchanged 35 36 Tax effect of nonshareholder contribution to capital Unchanged 36 37 Capital contribution by shareholder Unchanged 37 38 Basis to corporation of capital contribution by New shareholder 39 Tax effect of debt versus equity financing in Unchanged 39 capitalizing a corporation 40 Avoiding thin capitalization problem New 41 Tax treatment of worthless stock New 42 Business versus nonbusiness debt to individual Unchanged 42 shareholder 43 Gift of stock and loss of 167。 1244 stock attributes Unchanged 43 MULTIPLE CHOICE 1 Application of 167。 351 to transfer of property to Unchanged 1 a corporation 2 Transfer of property in 167。 351 transaction for stock Unchanged 2 and securities 3 Transfer of property in 167。 351 transaction for stock New and securities 4 Recognition of gain under 167。 351 New 5 Control requirement under 167。 351 when stock is Unchanged 3 received for services and property 6 Stock issued for property and services rendered in New anizing corporation Status: Q/P Question/ Present in Prior Problem Topic Edition Edition Corporations: Organization and Capital Structure 183 7 Application of 167。 351 to transfers to an existing Unchanged 5 corporation 8 Application of 167。 357(b) to 167。 351 transaction Unchanged 6 9 Application of 167。 357(c) to 167。 351 transaction New 10 Application of 167。 357(c) and receipt of boot in New 167。 351 transaction 11 Transfer of installment obligation in 167。 351 transfer Unchanged 9 12 Stock for property and services in a 167。 351 transaction New 13 Section 351 exchange: boot exceeds realized gain Unchanged 11 14 Transfer of property to corporation for control: 167。 351 Unchanged 12 transaction 15 Basis of stock to property transferor and basis of Unchanged 13 property to corporation 16 Transfer of property to controlled corporation in Unchanged 14 exchange for stock and securities 17 Application of 167。 351 to transfer to existing corporation Unchanged 15 18 Liabilities under 167。 357(c) in the incorporation of a Unchanged 16 cash basis proprietorship 19 Application of 167。 357(c) and receipt of boot in a 167。 351 Unchanged 17 transaction 20 Treatment to corporation: shares issued for services Unchanged 18 rendered in anizing corporation 21 Section 351 transaction: deductibility of payment for Unchanged 19 services rendered 22 Treatment to corporation: shares issued for services Unchanged 20 rendered to corporation 23 Transfer of property in 167。 351 transaction Unchanged 21 24 Depreciation recapture in a 167。 351 transaction New 25 Contributio