Discuss the relationship between realized gain and boot received in a § 1031 like-kind exchange.
What will be an ideal response?
Realized gain serves as the ceiling on the amount of the gain that is recognized in a § 1031 like-kind exchange. If no boot is received, then none of the realized gain is recognized. If boot is received and its fair market value is less than the realized gain, then gain is recognized to the extent of the boot received. If boot is received and its fair market value is greater than the realized gain, then gain is recognized to the extent of the realized gain (i.e., full recognition occurs).
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Indicate whether the statement is true or false
A T-account is a device or convention for organizing and accumulating the accounting entries of transactions that affect an individual account. Which of the following is/are true?
a. Increases in assets appear on the left side, and decreases in assets appear on the right side of T-accounts. b. Increases in liabilities appear on the right side, and decreases in liabilities appear on the left side of T-accounts. c. Increases in shareholders' equity appear on the right side, and decreases in shareholders' equity appear on the left side of T-accounts. d. All of the above are true. e. None of the above are true.
Which of the following methods is used by companies for monitoring and controlling forecasts?
A. tracking signals B. trend charts C. seasonal indices D. control signals
The Kia Soul automobile is currently positioned as a vehicle for young adults. Kia's message to the target market is that it is exciting, youthful, and trendy. However, Max and his friends who are 20-somethings just like the music and the hamster spokescharacters. They don't care about the car itself. The message that Kia originally encoded and the meaning Max and his friends ultimately decoded
A. probably contain circular feedback. B. may be different because of noise. C. are usually exactly the same. D. rarely are similar because of feedback. E. are collectively termed the communications channel.