If There Is a Realized Gain on a Like-Kind Exchange,both

question 128

True/False

If there is a realized gain on a like-kind exchange,both the receipt of boot and the giving of boot result in part or all of the realized gain being recognized.

---

Definitions:

Price Elasticity

A measure of how much the quantity demanded of a good responds to a change in its price, with high elasticity indicating sensitivity.

Appropriations

Funds that are set aside by a governing body, like a legislature, for a specific use or purpose as part of a budget or spending bill.

Tuition

The fee for instruction, especially for higher education institutions.

Price-Elastic

Describes a situation where the demand for a product changes significantly in response to changes in its price.