Ruby, Inc, Has 2,000 Shares of Stock Authorized and 1,000 Shares

question 8

Multiple Choice

Ruby, Inc., has 2,000 shares of stock authorized and 1,000 shares outstanding.The shares are owned by Sophia (850 shares) and Joan (150 shares) .Sophia's adjusted basis for her stock is $40,000 and Joan's adjusted basis for her stock is $35,000.Ruby's earnings and profits are $100,000.Ruby redeems 75 of Joan's shares for $50,000.Determine the amount of Joan's recognized gain (1) if she is Sophia's mother and (2) if they are unrelated.

• A)$0 and $0.
• B)$50,000 and $50,000.
• C)$50,000 and $-0-.
• D)$50,000 and $32,500.
• E)None of the above.

Comprehend the impact of colonialism on African societies as evidenced through art.

Differentiate between the artistic styles and specialties of various African ethnic groups.

Understand the importance of ancestral and spiritual connections in African art.

Learn about the artistic techniques and materials unique to African art.

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Definitions:

Irish

Pertaining to Ireland or its people, culture, or language.

Whites

People identified as belonging to a racial group characterized by lighter skin tones, often associated with European ancestry.

American Media

The various forms of media in the United States that disseminate news, entertainment, and advertising.

Highly Educated

Refers to individuals who have attained a high level of education, often including tertiary degrees such as a Master's or a Doctorate.