On November 15, 2016, LaGrow Developers Sold a Parcel of Land

question 45

Multiple Choice

On November 15, 2016, LaGrow Developers sold a parcel of land for $5,000,000. They had originally paid $3,600,000 for the land. The terms of the sale called for a $1,000,000 down payment, and the balance in two equal installments payable on November 15, 2017 and November 15, 2018. Disregard interest charges. LaGrow has a December 31 year-end. Refer to LaGrow Developers. Assume that LaGrow uses the installment sales method. The buyer defaulted on the note receivable after making the down payment. At the date of repossession, the land had a fair value of $4,000,000. What will be the gain or loss on repossession?

• A) $0 loss or gain
• B) $1,000,000 loss
• C) $1,000,000 gain
• D) 2,000,000 gain

Recognize metabolic and genetic disorders related to intellectual disabilities.

Understand historical and societal perspectives on intellectual disabilities, including eugenics and adaptive skills.

Identify behavioral characteristics and intervention methods for individuals with neurodevelopmental disorders.

Comprehend the role and impact of early intervention programs and the concept of "dignity of risk."

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Definitions:

Distributed Widely

The act of disseminating or spreading something, such as information or resources, across a broad area or among a large number of people.

Meaningful Work

Employment perceived as having significance and purpose, often contributing positively to the well-being of individuals and communities.

Bonds of Friendship

Refers to the strong ties or connections formed between individuals based on mutual respect, experiences, and affection.

Wider Society

The broader community or populace, encompassing various demographics and social groups beyond one's immediate environment.