Gena Exchanges Land Held as an Investment with a $60,000

question 25

Multiple Choice

Gena exchanges land held as an investment with a $60,000 basis for other land with a $80,000 FMV and a motorcycle with a $10,000 FMV.The acquired land is to be held for investment and the motorcycle is for personal use.What is the amount of recognized gain?

• A)$0
• B)$10,000
• C)$20,000
• D)$30,000

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Definitions:

Weight-to-Volume Ratio

A measurement indicating how much weight occupies a certain volume, important in fields like shipping and material science.

Value-to-Weight Ratio

A measure that compares the value of a product to its weight, often used in shipping and trade to determine the cost-effectiveness of transporting goods.

Supply-Chain Members

Businesses or entities involved in the process of producing and delivering a product or service, from raw material suppliers to manufacturers to retailers and finally to end consumers.

Environmentally Friendly

Practices, products, or services that cause minimal harm to the environment and are considered beneficial for ecological sustainability.