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Ajax and Brindel Corporations Have Filed Consolidated Returns for Several

question 10

Multiple Choice

Ajax and Brindel Corporations have filed consolidated returns for several calendar years.Ajax acquires land for $60,000 on January 1 of last year.On September 1 of this year,Ajax sells the land to Brindel for $90,000.The basis and holding period for the land acquired by Brindel are:

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Definitions:

Decreasing

Refers to a situation where a quantity or level is going down or diminishing over time.

Positive

A term often used in economics and finance to denote values or changes that signify growth, improvement, or gains.

Decreasing

A trend or process of becoming less in size, amount, number, or degree.

Negative

Characterized by or expressing disapproval or pessimism.

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