B Exchanges Investment Land with an Adjusted Basis of $55,000

question 38

Multiple Choice

B exchanges investment land with an adjusted basis of $55,000 for another parcel of investment land with a fair market value of $50,000 plus $12,000 in cash.B recognizes how much gain?

• A)$12,000
• B)$7,000
• C)$5,000
• D)No gain is recognized.

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Definitions:

Weak Pulse

An indication of low blood volume or pressure, characterized by a pulse that is difficult to feel or weaker than normal.

Fluid Excess

A condition where there is an abnormal increase in bodily fluid.

Ischemic Response

A physiological reaction to reduced blood supply to tissues, leading to a shortage of oxygen and glucose needed for cellular metabolism.

Vasomotor Center

A regulatory area in the medulla oblongata of the brain responsible for controlling blood vessel diameter and thus blood pressure.