Joan Is a 30% Partner in the OJT Partnership When

question 4

Essay

Joan is a 30% partner in the OJT Partnership when she sells her entire interest to Crissy for $100,000 cash. At the time of the sale, Joan's basis in OJT is $63,000 (which includes her $10,000 share of OJT liabilities). OJT does not have any hot assets. What is the amount and character of Joan's gain or loss on the sale?

Understand the basic principles of Merton's anomie-strain theory, including the relationship between societal aspirations and the availability of legitimate means to achieve those aspirations.

Identify and describe the different adaptations to strain as proposed by Merton (i.e., conformity, innovation, ritualism, retreatism, and rebellion).

Recognize the significance of societal pressures and the goal-means gap in inducing deviant behavior according to anomie-strain theory.

Compare and contrast different extensions and critiques of anomie-strain theory, including Cohen's status frustration and Cloward and Ohlin's differential opportunity theory.

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Definitions:

Nonexcludable

A characteristic of public goods where it is not possible to prevent anyone from accessing and using the good.

Clean Air

Air that is free of pollutants and contaminants, considered essential for health and environmental quality.

Public Good

A good that is non-excludable and non-rivalrous, meaning it can be consumed by many people without diminishing its availability to others.

National Defense

The protection and defense of a country against foreign threats and aggression, typically through military means.