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True or False 1. Section 332 can apply to a parent-subsidiary liquidation even if the...

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Accounting

True or False

1. Section 332 can apply to a parent-subsidiary liquidation even if the subsidiary corporation is insolvent on the date of the liquidation.

2. The basis for the acquiring corporation in the targets assets is increased by any gain recognized by the target.

3. The continuity of interest doctrine requires that all target shareholders receive some acquiring stock.

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