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QUESTION 9 Winnie and her daughter, Winifred, are the sole shareholders of Virginia Corporation. Winnie terminates her entire stock ownership in Virginia Corporation. One
QUESTION 9 Winnie and her daughter, Winifred, are the sole shareholders of Virginia Corporation. Winnie terminates her entire stock ownership in Virginia Corporation. One (1) year later, Winnie loans Virginia Corporation $50,000. Because of this loan, the termination of Winnie's stock ownership the year before can no longer be treated as a qualifying Stock Redemption. True False QUESTION 10 A Spin-Off is an exchange of Parent Corporation stock by shareholders of the Parent Corporation in exchange for stock in a Subsidiary of the Parent Corporation. False True
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