Brooks Corporation Distributes Property with a Basis of $20,000 and a Fair

question 44

Short Answer

Brooks Corporation distributes property with a basis of $20,000 and a fair market value of $25,000 to Caroline in complete liquidation of the corporation.Caroline's basis in the stock is $32,000.What must Caroline and Brooks report as income (loss)upon the liquidation of Brooks?
$\quad$ Caroline $\quad$$\quad$ Brooks
a. $\$ ( 12,000 ) \quad \$ ( 7,000 )$
b. $\$ ( 12,000 ) \quad \$ 5,000$
c. $\$ ( 12,000 ) \quad \$ - 0 -$
d. $\$ ( 7,000 ) \quad \$ 5,000$

Identify the influence of social and environmental factors on personality development.

Recognize the role of genetics in personality traits.

Appreciate the impact of cultural and societal changes on personality across generations.

Understand the significance of early childhood experiences on personality development according to various theorists.

---

Definitions:

Tobacco Use

The act of smoking or using tobacco products, which can lead to a range of health issues, including cancer and heart disease.

Cigarette Smoking

The act of inhaling and exhaling the smoke of tobacco or a drug, which is known to have harmful health effects, including cancer and cardiovascular diseases.

Theory of Planned Behavior (TPB)

A psychological theory that predicts an individual's intention to engage in a behavior at a specific time and place.

Diabetic Patient

An individual who has diabetes, a chronic condition characterized by high levels of sugar (glucose) in the blood.