What principle is applied when the properties bought by a corporation is wholly owned by the corporation? This principle also requires that all the properties of the corporation must be used for the benefit of the corporation only. None of the above Corporation is created by operation of law Corporation has a right of succession Separate and distinct personality of the corporation
What principle is applied when the properties bought by a corporation is wholly owned by the corporation? This principle also requires that all the properties of the corporation must be used for the benefit of the corporation only. None of the above Corporation is created by operation of law Corporation has a right of succession Separate and distinct personality of the corporation
Chapter7: Losses—deductions And Limitations
Section: Chapter Questions
Problem 9DQ
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What principle is applied when the properties bought by a corporation is wholly owned by the corporation? This principle also requires that all the properties of the corporation must be used for the benefit of the corporation only.
None of the above
Corporation is created by operation of law
Corporation has a right of succession
Separate and distinct personality of the corporation
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