What is the general formula for calculating the adjusted basis of property?
What will be an ideal response?
Adjusted basis is determined as follows:Cost (or other adjusted basis) on date of acquisition+ Capital additions- Capital recoveries= Adjusted basis
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Valor Company issued 5,000 shares of $1 par common stock for $30 per share, providing the company with $150,000 in cash. What effect, in addition to the increase in cash, does this transaction have on the accounting equation for Valor?
a. Common Stock increases $150,000. b. Common Stock increases $5,000; Additional Paid-in Capital—Common increases $145,000. c. Common Stock increases $5,000; Retained Earnings increases $145,000. d. Common Stock increases $5,000; Gain on Sale of Common Stock increases $145,000.
Which of the following statements is true of the Equal Employment Opportunity Commission?
A. It provides skilled people to help unions and employers in their bargaining so as to prevent strikes. B. It objects to mandatory binding arbitration as a condition of employment because it denies employees the right to bring independent discrimination claims. C. It prohibits employers from using lie detector tests on employees unless the employer is engaged in an investigation of economic losses due to theft. D. It protects workers from retaliation if they refuse to do work that they reasonably believe might cause serious injury.
The concept of "defect" is expanding
Indicate whether the statement is true or false
In business-to-consumer (B2C) e-commerce, _____.
A. individual final consumers are the customers B. the size of a typical individual transaction is very large C. customers do careful multiple research and compare vendors before purchasing a product D. buyers and sellers often develop a close working relationship