Bob Owns a Warehouse That Is Used in Business While

question 53

Multiple Choice

Bob owns a warehouse that is used in business while Rebecca owns land.Bob exchanges the warehouse for the land,which will be held for investment.The FMV of the warehouse is $440,000 (basis $240,000) ,but the warehouse is subject to a mortgage of $80,000,which is assumed by Rebecca.Bob receives $40,000 cash and the land,which has a FMV of $320,000.Bob realizes a gain (loss) on the exchange of

• A)$80,000.
• B)$120,000.
• C)$190,000.
• D)$200,000.

---

Definitions:

Prospective Employer

A company or individual who might consider hiring someone in the future.

Online Presence

The collective existence of an individual or organization that can be found online through search engines or social media.

Career-Management Tool

Resources or systems that help individuals plan, navigate, and develop their career paths effectively.

Résumés

A document created by an individual that lists their background, skills, and accomplishments, often used for job applications.