Sarah transfers property with an $80,000 adjusted basis and a $100,000 FMV to Super Corporation in a Sec. 351 transaction. Sarah receives stock with an $85,000 FMV and a short-term note with a $15,000 FMV. Sarah's basis in the stock is
A) $100,000.
B) $95,000.
C) $85,000.
D) $80,000.
D) $80,000.
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When a new partner is admitted,
a. the old partnership continues to exist and the name of the new partner is added. b. the old partnership is dissolved and a new one is created. c. the old partnership is dissolved and a new form of ownership must be chosen. d. the old partnership continues to exist and the new partner invests in the existing business.
What is the paradox of needs?
What will be an ideal response?
The balance in the Work in Process Inventory at any point in time equals
A. the costs for jobs finished during the period but not yet sold. B. the manufacturing cost of jobs ordered but not yet started into production. C. the manufacturing costs of all jobs started during the period, completed or not. D. the sum of the manufacturing costs for all jobs in process but not yet completed. E. the sum of the materials, labor and overhead costs paid during the period.
______ is the total length of time that a job spends at a work center from the point of arrival to the point where it leaves the work center.
A. Job flow time B. Job completion time C. Job tardiness D. Job processing time