Exhibit 10-1 Two Construction Companies, Fargo and Rambam, Are in the Construction

question 62

Multiple Choice

Exhibit 10-1 Two construction companies, Fargo and Rambam, are in the construction business.Each owns a tract of land being held for development, but each company believes that the other's land is better suited to enhance the success of each planned development.Accordingly, they agree to exchange their land and have the following information:
$\begin{array}{lll}&\text {Fargo's}&\text { Rambam's}\\&\text {Land}&\text {Land}\\\text { Cost and book value } & \$ 400,000 & \$ 250,000 \\\text { Fair value based upon appraisal } & \$ 500,000 & \$ 450,000\end{array}$ The exchange of land was made, and based on the difference in appraised fair value, Rambam paid $50, 000 cash to Fargo.
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Refer to Exhibit 10-1.For financial reporting purposes, Fargo should recognize a gain on this exchange in the amount of

• A)$ 0
• B)$ 50, 000
• C)$100, 000
• D)$200, 000

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Definitions:

Controlling Images

Stereotypical images and ideas imposed by dominant cultures that shape perceptions and limit the visibility of the complexity of minority groups.

Patriarchal Gender Arrangements

Social systems and structures that prioritize male authority and perpetuate gender inequalities, often to the detriment of women and other genders.

Asian Femininity

The cultural norms, values, and gender expectations traditionally associated with women in Asian societies.

Media Images

Visual content disseminated through various forms of media, influencing public perception and opinion.