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Question 1 5 If both Section 3 5 7 ( b ) ( No Bona Fide Business Purpose ) and Section 3 5 7 (

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If both Section 357(b)(No Bona Fide Business Purpose) and Section 357(c)(debt exceeds the basis of properties transferred (ie. Excess Debt)) apply to the same Section 351 transfer, Section 357(b) controls.
TRUE
FALSE
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