Match the Following Items with the Statements That Follow

Multiple Choice

Match the following items with the statements that follow. Terms may be used more than once.
-Flower Corporation is owned by Carry and Kim. All of Carry's stock value of $200,000) is exchanged for $200,000 in bonds. Kim exchanges no stock in the transaction.

A) Boot
B) Business credits
C) Capital gain
D) Continuity of business enterprise
E) Continuity of interest
F) Dividend
G) Discount rate
H) Earnings and profits
I) Federal long-term tax-exempt rate
J) Liability assumption
K) Ordinary gain
L) Ownership change
M) Section 382 limitation
N) Sound business purpose
O) Step transaction