Emma Owns a Small Building ($120,000 Basis and $123,000 FMV)and

question 24

Multiple Choice

Emma owns a small building ($120,000 basis and $123,000 FMV) and equipment ($35,000 basis and $22,000 FMV) .Both assets were acquired three years ago,are used in Emma's business,and are depreciated using straight-line depreciation.Both are destroyed by fire.Insurance proceeds were equal to their FMVs.Only one other transfer of an asset occurs during the year,and a $3,000 LTCL is recognized.After considering all transactions,the tax result to Emma is a

• A)$13,000 NLTCL.
• B)$13,000 ordinary loss.
• C)$3,000 LTCG; $3,000 LTCL; and $13,000 ordinary loss.
• D)$10,000 net ordinary loss and a $3,000 NLTCL.

---

Definitions:

Resistance

Opposition or reluctance to accept change or new ideas, often due to comfort with existing conditions or fear of the unknown.

Incongruent Organizational Systems

Instances where there is a lack of alignment or compatibility between different aspects of an organization's structure, culture, or processes.

Learning Interventions

Strategies or programs implemented to improve individuals' or groups' learning outcomes, addressing specific learning needs or obstacles.

Resistance

The act of opposing or fighting against changes, policies, or practices within an organization, often due to the perceived negative impacts.