Which of the following is TRUE about like-kind exchange?
A) Like-kind exchange can be used to completely avoid paying capital gains taxes on the sale of property
B) Like-kind exchanges allow homeowners to sell their residence and transfer taxes to the new residence.
C) Like-kind exchanges enable investors and business property owners to defer payment of capital gains taxes on investment properties.
Answer: C) Like-kind exchanges enable investors and business property owners to defer payment of capital gains taxes on investment properties.
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Indicate whether this statement is true or false.
The ________ Act makes it a crime in the United States to engage in theft of a trade secret
A) Sarbanes-Oxley B) Patriot C) Economic Espionage D) Industrial Espionage