Which of the following statements best describes a section 338 transaction?
A) A section 338 transaction is an election made by the buyer to treat a stock acquisition as an asset acquisition.
B) A section 338 transaction is an election made by the buyer to treat an asset acquisition as a stock acquisition.
C) A section 338 transaction is an election made by the seller to treat a stock acquisition as an asset acquisition.
D) A section 338 transaction is an election made by the seller to treat an asset acquisition as a stock acquisition.
Correct Answer:
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