Question

If the buyer assumes the seller's liability on the property acquired, the seller's amount realized is increased by the amount of the liability assumed.

A) True

B) False

Answer 1

If the buyer assumes the seller's liability on the property acquired, the seller's amount realized is increased by the amount of the liability assumed. Therefore, the statement is True.

Step-by-step explanation:

If the buyer assumes the seller's liability on the property acquired, the seller's amount realized is increased by the amount of the liability assumed. Therefore, the statement is True.