Which of the following constitutes a realization?
I. Jamie prepares a will for Wilson. He pays her by painting her house.
II. Jones' cow gives birth. The calf will become a member of Jones' feeder cattle herd.
III. Oak Ridge Coal Company's coal mine reserves were recently appraised at $5,750,000 more than the previous year's appraisal.
IV. Lea's employer gives her (and all other salaried

employees) a weekend in Orlando in recognition of their efforts to make this a successful year.
a. Only statement I is correct.
b. Only statement II is correct.
c. Only statements I and II are correct.
d. Only statements I and IV are correct.
e. Only statements II, III, and IV are correct.


d

Business

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