1. Dedria Corporation changed its name to Lenise Corporation. This is example of what type of tax-free reorganization?

X reorganization

F reorganization

Y reorganization

Z reorganization

2. Earnings accumulated for self-insurance purposes are considered to be for the reasonable needs of the business for purposes of the accumulated earnings tax (section 531).

True

False

3. Once a Corporation is determined to be a personal holding company, it will always be a personal holding company for the remainder of its existence for purposes of the personal holding company tax (section 541).

true

false

4. The IRS may impose both the accumulated earnings tax (section 531) and the personal holding company tax (section 541) on a Corporation in the same tax year.

true