Answer:
A) giving the key to a safe-deposit box where the gift is kept
Explanation:
- A Constructive delivery possession is that acquisition when here a symbolic transfer of property. The constructive distribution of the possession is basically a right that the property is not actually managed
- But the donor has done something to convey the possession, but the property is of such a nature that physical possession is then not possible, the creative possession of the property is sufficient to carry out the act of gift.
Answer:
The National Credit Union Association is a entity that monitors and regulate the Credit Unions which are organizations that are part of a cooperative and give credit to its members.
It was created in 1934 by the president Franklin Delano Roosevelt.
Answer:
C. Ron’s basis in his stock is $27,000
Explanation:
Income recognized on services rendered $21,000
Add basis of $6,000
Ron stock basis $27,000
The property contributed by Ron is not considered insignificant compared to the value of the services he has rendered, which is why the entire contribution is counted as being for property.
Hence, the control requirement is satisfied and a valid § 351 transaction results. Ron’s stock basis is $27,000 [$6,000 (basis of cattle transferred) + $21,000 (income recognized on services rendered)]
Answer:
Expenses will be understated, hence, Net Income will be overstated.
Rent prepaid will be overstated, hence, current assets will be overstated.
Explanation:
Ordinarily, rent prepaid is meant to be credited every month to the tune of the the value that has been consumed and then added to period expenses to reduce net income.
In the statement of Financial Position, the same amount that has been consumed should be used to reduce balance in rent prepaid account, otherwise, current assets will be overstated if no adjustment is made.
The correct answer on Gradpoint is a government employee
