Kelly inherits land that had a basis to the decedent of $95,000 and a fair market value of $50,000 on august 4, 2019, the date of the decedent's death. the executor distributes the land to kelly on november 12, 2019, at which time the fair market value is $49,000. the fair market value on february 4, 2020, is $45,000. in filing the estate tax return, the executor elects the alternate valuation date. kelly sells the land on june 10, 2020, for $48,000. what is her recognized gain or loss?
a. ($1,000).
b. ($2,000).
c. ($47,000).
d. $1,000.
e. none of the above.

T-comm makes a variety of products. it is organized in two divisions, north and south. the managers for each division are paid, in part, based on the financial performance of their divisions. the south division normally sells to outside customers but, on occasion, also sells to the north division. when it does, corporate policy states that the price must be cost plus 20 percent to ensure a "fair" return to the selling division. south received an order from north for 300 units. south's planned output for the year had been 1,200 units before north's order. south's capacity is 1,500 units per year. the costs for producing those 1,200 units follow

10.     lucy is catering an important luncheon and wants to make sure her bisque has the perfect consistency. for her bisque to turn out right, it should have the consistency of a. cold heavy cream. b. warm milk. c. foie gras. d. thick oatmeal. student d   incorrect

In the united states, one worker can produce 10 tons of steel per day or 20 tons of chemicals per day. in the united kingdom, one worker can produce 5 tons of steel per day or 15 tons of chemicals per day. the united kingdom has a comparative advantage in the production of: