The City of Springfield donates land worth $250,000 to Deuce Corporation to induce it to locate in Springfield and provide 1,000 jobs for its citizens. How much gross income must Deuce Corporation recognize because of the land contribution, and what is the land's basis to Deuce Corporation?
A. $250,000 income; $250,000 basis
B. $0 income; $250,000 basis
C. $250,000 income; $0 basis
D. $0 income; $0 basis
Answer: A
You might also like to view...
Which of the following are sources to consult when researching a company?
A) business magazines B) corporate directories C) annual reports D) all of the above
Answer the following statements true (T) or false (F)
1.To signal that we have not completed our thought, the listener might use a vocalized filler such as “um” or “ah.” 2.While for women conversations are negotiations for achievement, for men they are negotiations for closeness. 3.Persons who fail to provide others with the information they need violate the quality maxim. 4.Interjecting irrelevant comments illustrates uncooperativeness and violates the manner maxim. 5.The conversational maxims--relevancy, manner, quality, and quantity--are universal maxims used by all cultures.
Bonus packs which offer larger sizes for the same price as a smaller size are used for:
A) trade promotion. B) product-oriented promotion. C) price-oriented promotion. D) horizontal promotion.
In situations where the respondents are expected to have no opinions, as opposed to simply being reluctant to disclose it, the accuracy of data may be improved by a non-forced scale that includes a "no opinion" category
Indicate whether the statement is true or false