Which one of the following statements concerning the requirements for a nontaxable reorganization is false?
A) The reorganization must meet regulations concerning either "continuity of interest" or "continuity of business enterprise."
B) The reorganization must conform to one of several qualifying patterns.
C) The transaction must have a business purpose.
D) There must be a plan of reorganization that is adopted by each corporation involved in the transaction.
Correct Answer:
Verified
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