Nancy and Tonya Exchanged Assets

question 88

Multiple Choice

Nancy and Tonya exchanged assets. Nancy gave Tonya her personal residence with an adjusted basis of $280,000 and a fair market value of $560,000. The house has a mortgage of $200,000 which is assumed by Tonya. Tonya gave Nancy a yacht used in her business with an adjusted basis of $250,000 and a fair market value of $360,000. What is Tonya's realized and recognized gain?

• A) $310,000 realized and $310,000 recognized gain.
• B) $310,000 realized and $0 recognized gain.
• C) $110,000 realized and $110,000 recognized gain.
• D) $110,000 realized and $0 recognized gain.
• E) None of the above.

Explain the transfer system as defined by Elwood Holton and its significance in addressing training transfer issues.

Understand the general concept and definitions of stress.

Recognize the biological and psychological response mechanisms to stress.

Understand the role of interpersonal relations and social context on stress.

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Definitions:

Plantwide Overhead Rate

An overhead allocation rate applied uniformly to all products or services based on overall plant activity, ignoring individual departmental differences.

Direct Labor-Hours

Refers to the measurable amounts of work effort contributed directly by laborers on the manufacturing floor towards the production of goods.

Manufacturing Departments

Specialized subdivisions within a manufacturing facility where different stages of the production process are carried out.

Markup

A term used in accounting and finance to describe the difference between the cost of a good or service and its selling price.