David Contributes Investment Land with a Basis of $24,000 and an FMV

question 40

Multiple Choice

David contributes investment land with a basis of $24,000 and an FMV of $40,000 to a partnership for a 10% interest in partnership capital, profits, and losses. The land is subject to a $30,000 recourse liability, which is assumed by the partnership. The partnership has other recourse liabilities of $18,000. Partners share the economic risk of loss from recourse liabilities in the same way they share partnership losses. David must recognize a

• A) $1,200 capital loss.
• B) $1,200 capital gain.
• C) $3,000 capital loss.
• D) $3,000 capital gain.

Identify factors contributing to health expectancy and life expectancy.

Recognize the impact of lifestyle changes on health expectancy.

Understand the goals and outcomes of the Healthy People initiatives.

Analyze health disparities based on ethnicity, educational level, and age.

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Definitions:

Sadness

An emotional state characterized by feelings of disappointment, grief, or hopelessness, often triggered by upsetting experiences.

Misattribution of Arousal

A psychological phenomenon where a person incorrectly attributes the source of their emotional or physical arousal to the wrong cause.

Two-factor

A concept or phenomenon that involves two distinct factors, components, or conditions for its occurrence or explanation.

Circumplex Model

A model describing human emotions as existing in a two-dimensional space, with levels of arousal and valence defining the axes.