Joan Gives an Asset Valued at $12,000 with a Basis

question 49

Multiple Choice

Joan gives an asset valued at $12,000 with a basis of $10,000 to Mary; Joan dies six-months later leaving an asset valued at $10,000 with a basis of $12,000 to Larry.What are Mary's and Larry's bases in these assets if they are then sold for their fair market value?

• A)Mary = $12,000; Larry = $12,000
• B)Mary = $12,000; Larry = $10,000
• C)Mary = $10,000; Larry = $12,000
• D)Mary = $10,000; Larry = $10,000

Identify primary and secondary categories of diversity within organizations.

Grasp the concept of a global mindset and its value in managing and leading across cultures.

Understand the role and impact of cultural values and social norms within a society.

Appreciate the importance of diversity and across-cultures competencies in fostering organizational strength and respect for individual uniqueness.

---

Definitions:

Job Specification

A detailed description of the qualifications, skills, experience, and duties required for a specific job position.

Acronym KSA

Knowledge, Skills, and Abilities; a commonly used term, especially in job descriptions, to refer to the essential elements required to perform a task.

Bureau of Labor Statistics

A U.S. government agency that collects, processes, analyzes, and disseminates essential statistical data on labor economics.

Average American

A term often used to describe what is considered typical for a person living in the United States in terms of behavior, beliefs, and economic status.