Rick Transferred the Following Assets and Liabilities to Warbler Corporation

question 17

Multiple Choice

Rick transferred the following assets and liabilities to Warbler Corporation. $\begin{array}{lll}&&\text { Fair Market }\\& \text { Adjusted Basis } & \text { Value }\\\text { Building } & \$ 210,000 & \$ 225,000 \\\text { Equipment } & 45,000 & 75,000 \\\text { Trucks } & 15,000 & 30,000 \\\text { Mortgage (held for four years) on building } & 30,000 & 30,000\end{array}$ In return, Rick received $75,000 in cash plus 90% of Warbler Corporation's only class of stock outstanding fair market value of $225,000) .

• A) Rick has a recognized gain of $60,000.
• B) Rick has a recognized gain of $75,000.
• C) Rick's basis in the stock of Warbler Corporation is $270,000.
• D) Warbler Corporation has the same basis in the assets received as Rick does in the stock.
• E) None of these.

Understand and apply knowledge of neuroanatomy in relation to symptoms of mental health disorders.

Understand the importance of relationship building in psychiatric care, including trust between patient and provider.

Identify the competencies required for nurses in different psychiatric settings.

Recognize violations of patients' rights within psychiatric care.

---

Definitions:

Autotrophs

Organisms that produce their own food from inorganic substances using light or chemical energy, with plants being the most common examples.

Environment

The surrounding conditions and factors that affect living organisms and ecosystems, including both natural and man-made elements.

Carbon

Carbon is a chemical element with symbol C and atomic number 6, essential to all known life forms and the basis of organic chemistry, forming a vast number of compounds including carbon dioxide and organic molecules.

Organic Compounds

Chemical compounds containing carbon atoms bonded to hydrogen atoms with possible addition of other elements such as oxygen, nitrogen, and sulfur; fundamental to all known life forms.