Which of the following statements is true?

Question

Quizplus · Accepted Answer

In U.S. tax law, specific rules govern the treatment of net operating losses (NOLs) and earnings and profits (E&P) in corporate reorganizations. For "A" reorganizations, there are limitations on the use of the acquired corporation's NOLs by the surviving corporation, contrary to what choice A suggests. In "C" reorganizations, the target corporation's E&P does not simply disappear; it is more complex and depends on the specifics of the transaction. For "B" reorganizations, the acquiring corporation does not automatically inherit all of the target corporation's tax attributes, such as NOLs, without limitations or specific requirements being met. Therefore, all the statements provided are false.

Which of the Following Statements Is True