David Pays $35,000 Cash and Issues a Mortgage Note for $95,000

question 51

Multiple Choice

David pays $35,000 cash and issues a mortgage note for $95,000 to purchase land. He pays $750 to his attorney for reviewing the purchase agreement. David's initial basis in the land is

• A)$- 0 -
• B)$35,000
• C)$35,750
• D)$130,000
• E)$130,750

Know the cold cranking amp (CCA) performance parameters for lead-acid batteries.

Identify the roles and selection criteria of isolated batteries in truck electrical systems.

Compare standard and maintenance-free lead-acid batteries.

Diagnose common battery maintenance issues and necessary preventive measures.

---

Definitions:

Total Assets Turnover

A financial ratio that measures the efficiency of a company's use of its assets to generate sales revenue.

Equity Multiplier

A measure of a company's financial leverage, calculated by dividing its total assets by total stockholders' equity.

Net Income

The net income of a company once all costs and taxes are subtracted from the total earnings.

Total Assets Turnover

A financial ratio that measures a company's efficiency in using its assets to generate revenue.