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Apple Corporation and Banana Corporation file consolidated returns.In January 2007,Apple sold Banana property with a basis of $120,000 for its fair value of $150,000.Banana sold the property to an unrelated party in April 2008 for $200,000.What amount of gain should be reported for these transactions in the consolidated returns for 2011 and 2012?
Lurking Variables
Variables that are not directly studied but can influence the outcome of an experiment or study, potentially confounding the results.
Explanatory Variable
A type of independent variable that is manipulated to determine its relationship with observations in an experiment or study.
Explanatory Variable
A variable that is manipulated or categorized to observe its effect on a response variable.
Gross Sales
The total revenue generated from sales before any deductions are made for returns, discounts, or allowances.
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