On July 25,2014,Marilyn Gives Stock with a FMV of $7,500

question 17

Multiple Choice

On July 25,2014,Marilyn gives stock with a FMV of $7,500 and a basis of $5,000 to her nephew Darryl.Marilyn had purchased the stock on March 18,2014.Darryl sold the stock on April 18,2015 for $7,800.As a result of the sale,what will Darryl report on his 2014 tax return?

• A)$300 STCG
• B)$300 LTCG
• C)$2,800 STCG
• D)$2,800 LTCG

Identify the sequence and interdependencies within the budget process.

Understand the financial planning around cash balances and the need for financing.

Recognize the importance of activity-based budgeting for resource planning.

Understand the distinctions between manufacturing and merchandising budget needs.

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Definitions:

LLCs

Limited Liability Companies, a flexible form of business enterprise that offers limited liability protection to its owners.

Manager-managed LLCs

A structure for a Limited Liability Company where the daily business operations are controlled and managed by appointed managers rather than by all its members.

Members

Individuals or entities that are part of a group, organization, or body, often with certain rights and responsibilities.

Duties

Responsibilities or obligations of an individual, such as paying taxes or performing certain actions.