Ajax and Brindel Corporations Have Filed Consolidated Returns for Several

question 58

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:

• A) \[\begin{array} { | l | l |}
• \hline &\text { Holding Period Begins } \\
• \text { Basis } & \text { On } \\
• \hline \$ 60,000 & \text { january 2 of last year } \\
• \hline
• \end{array}\]
• B) \[\begin{array} { | l | l | }
• \hline &\text { Holding Period Begins } \\
• \text { Basis } & \text { On } \\
• \hline \$ 90,000 & \text { Tanuary 2 of last year } \\
• \hline
• \end{array}\]
• C) \[\begin{array} { | l | l | }
• \hline &\text { Holding Period Begins } \\
• \text { Basis } & \text { On } \\
• \hline \$ 90,000 & \text { September } 2 \text { of this year } \\
• \hline
• \end{array}\]
• D)none of the above

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Definitions:

Ignored

Overlooked or disregarded, often intentionally or due to lack of interest or importance.

Shadow Negotiation

The strategic discussions and maneuvers that take place in the background of formal negotiations, influencing the official outcomes.

Ury's "Breakthrough Approach"

A conflict resolution method proposed by William Ury that emphasizes direct negotiation and creative problem-solving to overcome obstacles and reach agreement.

Difficult Conversation

A dialogue that is challenging to have due to the sensitive, emotional, or complex nature of the topics discussed.