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ad-work [718]
3 years ago
14

Which of the following statements about the inclusion of boot in a nontaxable exchange is false? Multiple Choice The purpose of

including boot in a nontaxable exchange is to equalize the adjusted tax bases of the properties exchanged. The receipt of boot can trigger gain recognition but not loss recognition. The party paying the boot includes the FMV of the boot in the tax basis of the property received. None of the above is false.
Business
1 answer:
ankoles [38]3 years ago
3 0

<u>Answer:</u>

<em>The purpose of including boot in a nontaxable exchange is to equalize the adjusted tax bases of the properties exchanged. </em>

<em></em>

<u>Explanation:</u>

A nontaxable exchange is a trade wherein you are not exhausted on any addition, and you cannot deduct any loss. On the off chance that you get property in a "nontaxable business", its premise usually is equivalent to the assumption of the property you moved. A nontaxable increase or misfortune is otherwise called an unrecognized addition or misfortune.

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The cash flows for a perpetuity continue into the future indefinitely. An example of a perpetuity is: preferred stock. corporate
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The right answer for the question that is being asked and shown above is that: "corporate bonds."The cash flows for a perpetuity continue into the future indefinitely. An example of a perpetuity is: <span>corporate bonds</span>
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3 years ago
The company currently markets McDog T-bone, Lapdog Lunchtreats, Rover's Potroast, and Puppy Porterhouse in the dog food market.
olasank [31]

Answer:

company's product line in the dog food market

Explanation:

In the description provided, it can be said that Prime Cuts will be an addition to the company's product line in the dog food market. A product line is a group of related products all marketed under a single brand name and are sold by the same company to the same targeted group of consumers. Such as in this scenario, all of the products listed are dog treats/food with different ingredients and are all sold by the same company to people looking for dog food.

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3 years ago
Target donates millions of dollars each year in education-related grants for arts and cultural experiences, field trips, and rea
melomori [17]

Answer:

<u><em>Philanthropy</em></u>

Explanation:

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Philanthropy is good , it helps in solving the social problem .

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<em>Philanthropy always focuses on eliminating social problem.</em>

8 0
3 years ago
Navajo Corporation traded a used truck (cost $25,000, accumulated depreciation $22,500) for a small computer worth $4,125. Navaj
bulgar [2K]

Answer:

Calculation of Gain or Loss:

Book Value of Truck:

= 25,000 - 22,500

= $2,500

Gain on Exchange:

= 4,125 - 2,500 - 625

= $1,000

Therefore, the journal entry is as follows:

Accumulated Depreciation A/c Dr. $22,500

computer A/c                              Dr. $3,125

                   To Truck                                            $25,000

                   To Cash                                              $625

(To record the Truck)

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