If an Individual Transfers an Ongoing Business to a Corporation

question 119

Multiple Choice

If an individual transfers an ongoing business to a corporation in a Sec. 351 exchange, the individual must recognize any realized gain

• A)only if the adjusted basis of the property transferred is less than the FMV of the stock received.
• B)if the transferor receives property other than stock.
• C)if the FMV of the property exchanged exceeds the FMV of the stock received.
• D)both A and B above

Recognize the importance of environmental factors and community infrastructure in disease prevention.

Understand the historical development of public health initiatives and their impact on community health.

Analyze the role of government and non-governmental organizations in the advancement of public health.

Identify key figures and their contributions to public health and nursing.

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Definitions:

Income

The income earned, particularly on a consistent basis, from employment or investment returns.

Stock Concept

An economic term describing quantities measurable at a point in time, such as wealth or capital.

Flow Concept

A term used in economics and finance to describe quantities measured over a period of time, such as income or expenses.

Wealth

An abundance of valuable financial assets or physical possessions which can be transformed into forms that can be used for transactions.