This Year P and Q Formed ABC Corporation

question 30

Multiple Choice

This year P and Q formed ABC Corporation.P transferred a building worth $90,000 (basis $25,000) to the corporation in an exchange generally qualifying under § 351.The building was subject to a mortgage of $10,000, and P received stock worth $80,000 on the exchange.P will recognize

• A)No gain or loss and have a basis in his stock of $25,000
• B)No gain or loss and have a basis in his stock of $15,000
• C)A gain of $10,000 and have a basis in his stock of $25,000
• D)A gain of $15,000
• E)A gain of $65,000

Comprehend the importance of networking, resource marshaling, and team building in venture creation.

Acknowledge the different motivational needs of successful entrepreneurs.

Appreciate the diversity of factors (cognitive, economic, social, and institutional) influencing entrepreneurial behavior.

Understand the relationship between individual differences (including personality traits and attitudes) and stress perception and response.

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Definitions:

Diversity

All forms of difference among individuals, including culture, gender, age, ability, religion, personality, social status, and sexual orientation.

Uncertainty Avoidance

A cultural dimension that reflects the extent to which members of a society attempt to cope with anxiety by minimizing uncertainty.

Diversity

The inclusion of individuals from various backgrounds, cultures, races, genders, sexual orientations, etc., enriching a community or organization.

Demographic Changes

Refers to the alterations in the composition of a population over time, including-age distribution, birth and death rates, and migration patterns.