In the Current Year, Dove Corporation (E & P of $1

question 63

Multiple Choice

In the current year, Dove Corporation (E & P of $1 million) distributes all of its property in a complete liquidation. Alexandra, a shareholder, receives land having a fair market value of $100,000. Dove Corporation had purchased the land as an investment three years ago for $75,000, and the land was distributed subject to a $70,000 liability. Alexandra took the land subject to the $70,000 liability. What is Alexandra's basis in the land?

• A)$100,000.
• B)$75,000.
• C)$30,000.
• D)$5,000.
• E)None of the above.

Comprehend the principles of societal, stakeholder, and profit responsibilities in corporate ethics.

Understand the ethical considerations involved in product marketing and advertising claims.

Appreciate the complexities of social responsibility within the context of global and local actions by corporations.

Differentiate between the three concepts of social responsibility concerning their specific focus areas and constituencies.

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