Beth transfers an asset having an FMV of $200,000 and an adjusted basis of $150,000 to ABC Corporation in a Sec. 351 transaction. Beth receives in exchange ABC common stock having an FMV of $175,000 and Zeus Corporation common stock (a capital asset) having an FMV of $25,000 and a basis of $10,000 to ABC Corporation. ABC Corporation must recognize
A) no gain.
B) a $15,000 capital gain.
C) a $25,000 capital gain.
D) a $50,000 capital gain.
B) a $15,000 capital gain.
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Identify the word that the underlined adjective or adjectives modify. The seminar on teamwork was informative
The ________ is the most common form of business organization in the United States
A) partnership B) C corporation C) S corporation D) limited liability company
The ________ was formed by twelve original members with the primary motivation of reasserting the region's economic position against the United States and Japan.
A. African Union B. European Union C. Central America Free Trade Agreement D. Association of South-East Asian Nations
The basic objective of the U.S. market-directed economic system is to
A. achieve an annual growth rate of at least 10 percent. B. make the most efficient use of the country's resources. C. satisfy consumer needs as they-the consumers--see them. D. minimize inflation. E. provide each person with an equal share of the economic output.