Individuals Gayle and Marcus Form GM Corporation

question 90

Multiple Choice

Individuals Gayle and Marcus form GM Corporation.Gayle transfers land and a building with a $750,000 adjusted basis and a $830,000 FMV in exchange for 50% of the stock of the GM Corporation worth $800,000 and a $30,000 note.Marcus transfers cash of $830,000 for 50% of the stock worth $800,000 and a note of the GM Corporation valued at $30,000.The basis of the land and building to GM Corporation is

• A)$750,000.
• B)$780,000.
• C)$830,000.
• D)$860,000.

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Definitions:

Myelin

A fatty substance that forms a sheath around the axons of many neurons, helping to speed the conduction of nerve impulses.

Synaptic Vesicles

Membrane-bound sacs in the axon terminal of neurons that store neurotransmitters to be released at the synapse.

Synapse

The junction between two neurons where electrical or chemical signals are transmitted from one neuron to another.

Neurotransmitter

A Neurotransmitter is a chemical substance released by nerve cells to transmit signals to other nerve cells across synapses, playing a crucial role in the functioning of the nervous system.