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Essay Multiple Choice

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All Jurisprudence based

0 tracked cards Commercial and Taxation Laws

New shareholders acquire control of a retailer. The retailer itself keeps title to the same inventory and continues operations; there is no asset transfer, withdrawal or cessation. The collector treats the stockholder change alone as an inventory deemed sale. Which is correct?

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Every share transfer transfers every corporate asset to the buyer The retailer’s inventory automatically becomes personal property of shareholders The regulation does not deem the corporation’s retained inventory sold merely from a change of corporate control Every change of shareholders ends the corporation

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