Hank Exchanged an Old Asset with a $12,000 Adjusted Basis

question 100

Multiple Choice

Hank exchanged an old asset with a $12,000 adjusted basis for a new asset with a $32,000 FMV plus $2,000 cash. Compute Hank's realized and recognized gain if the new and old assets are like-kind properties.

• A) $20,000 realized gain; $0 recognized gain
• B) $22,000 realized gain; $0 recognized gain
• C) $22,000 realized gain; $2,000 recognized gain
• D) $2,000 realized gain; $2,000 recognized gain

Understand the reasons for preparing patients for diagnostic examinations related to the urinary system.

Know the appropriate diagnostic tests for various urinary system conditions.

Grasp how to properly instruct patients on sample collection methods for urinalysis.

Comprehend the relationship between postmenopause and increased risk of UTIs.

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Definitions:

Marginal Social Benefit

The additional benefit that society receives from the consumption of an additional unit of a good or service.

Marginal Social Cost

The total cost to society of producing one additional unit of a good or service, considering both the costs borne by the producer and any costs or benefits to third parties (externalities).

Public Good

A product or assistance made available to all societal members without financial gain, provided by either state bodies or voluntary private groups or individuals.

Nonrival

A characteristic of a good whereby one person's consumption does not reduce its availability to others.