arctic inc reported 25 million in net income before tax for book purposes but only 19 million for federal income tax purposes which of the following could conyribte to the difference

a.artci has a wholly owned uk subsidiary

b.artci owns 51% of gator inc a us company

c.artic has favorable permanet and timing book to tax differences

d.all of the above

22.) bob and sally transferred property to new in exchange for 100% of news stock but failed to attach a 351 election to the corporate tax return the failure to elect will trigger recognition of any gains reazlied?

T OR F

23.) bob and ted transferred property to new in return for 67% if news common stock. In the same transaction carol received 33% of new cos stock in return for legal services. Bob and teds transfers will qualify for 351 treatment however carols will not?

T OR F

24.)Janice transferred property with a FMV of 100,000 basis 25,000 in return for 50% of news stock. In the same transaction jerry received 50% of news stock in return for property with a FMV if 15,000 plus marketing services he will provide over the next three months. The transactions will qualify for 351 treatment?

T OR F