Which of the following is true of a like-kind exchange: a. There must be no cash exchanged to qualify. b. The properties exchanged cannot be personal property. c. Office furniture can be exchanged for computers. d. A new holding period for capital gains treatment starts on the day the exchange is completed.

12. Which of the following is true of a like-kind exchange: a. There must be no cash exchanged to qualify. b. The properties exchanged cannot be personal property. c. Office furniture can be exchanged for computers. d. A new holding period for capital gains treatment starts on the day the exchange is completed