Bob Exchanges 4000 Shares of Beetle Corporation Stock That He

question 34

Multiple Choice

Bob exchanges 4000 shares of Beetle Corporation stock that he had purchased for $800,000 for 6000 shares of Butterfly Corporation common stock with a fair market value of $1,000,000.What is Bob's recognized gain on the exchange and his basis in the Butterfly stock?

---

Definitions:

Divorce Rates

The statistical measure of how often divorce occurs within a population, typically expressed per 1000 marriages.

Abortion

The medical or surgical termination of a pregnancy before the fetus is capable of independent life.

Internationally

Pertains to matters that involve more than one country or are conducted between countries.

Child Free Couples

Couples who choose not to have children, either for personal, medical, or other reasons.