Which of the following statements is correct with respect to the § 338 election? a. None of the above. b. The parent recognizes no gain (loss) as a result of the election. c. Gain, but not loss, is recognized by the subsidiary as a result of a deemed sale of its assets. d. A qualified stock purchase occurs when a corporation acquires, in a taxable transaction, at least 80% of the stock (voting power and value) of another corporation within an18-month period. e. The subsidiary corporation makes the § 338 election.

I have no clue to be honest but if I had to guess, I would say B or D but not sure. I think I have had this question before but I could not find it so if it is wrong don't come for me I am not sure!!!

Explanation:

there are conflicting perceptions. what cannot be denied is that despite a long history of discrimination, they finally chose to bow out in grace and handed over power to the majority. it was a painful experience for them to part with their prerogatives and some chose to leave the country. however, they did decide to bite the bullet and go through the process with minimum obstructions.

presently, whites are still a force to reckon with. they are well educated, have technical and business expertise, they understand imperatives of good governance and are responsible for keeping south africa connected with developed countries. despite a bitter history, they are useful team members of the south african team.

answer; ( action training environment;