Which of the following statements is correct? a. The sale of an unincorporated s
ID: 2535925 • Letter: W
Question
Which of the following statements is correct? a. The sale of an unincorporated sole proprietorship is always treated as the sale of the individual business assets. b. The sale of a partnership is treated as the sale of the individual assets only if the sales transaction is structured as the sale of the individual assets. c. The sale of a corporation is either treated as the sale of the corporate stock or as the sale of the individual assets. d. Only "The sale of an unincorporated sole proprietorship is always treated as the sale of the individual business assets" and "The sale of a partnership is treated as the sale of the individual assets only if the sales transaction is structured as the sale of the individual assets" are correct. e. "The sale of an unincorporated sole proprietorship is always treated as the sale of the individual business assets", "The sale of a partnership is treated as the sale of the individual assets only if the sales transaction is structured as the sale of the individual assets", and "The sale of a corporation is either treated as the sale of the corporate stock or as the sale of the individual assets" are correct.
Explanation / Answer
Answer is option A
The sale of an unincorporated sole proprietorship is always treated as the sale of the individual business assets.
A sole proprietorship is unincorporated businesses owned by one person and fully conducts the business itself. The sale of a sole proprietorship is treated as the sale of individual assets.
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