An office building with an adjusted basis of $320,000 was destroyed by fire on december 30, 2013. on january 11, 2014, the insurance company paid the owner $450,000. the fair market value of the building was $500,000, but under the co-insurance clause, the insurance company is responsible for only 90 percent of the loss. the owner reinvested $410,000 in a new office building on july 12, 2015, that was smaller than the original office building. the owner is a calendar year taxpayer.

i) what is the taxpayer’s recognized gain or loss?
ii) what is the taxpayer’s basis for the new office building?
iii) what is the latest date that the owner can reinvest the proceeds and qualify for deferral treatment?

Which of the following statements is true regarding the definition of a fund? a fund is a fiscal entity which is designed to provide reporting that demonstrates conformance with finance-related legal and contractual provisions separately from gaap reporting. a fund exists to assist in carrying on activities and attaining objectives where there are no specific rules or restrictions. a fund is an accounting entity which is designed to enable reporting in conformity with gaap without being restricted by legal or contractual provisions. a fund is a mechanism developed to provide accounting for revenues and expenditures that are subject to certain restrictions separate from revenues and expenditures that are not subject to restrictions.

When the federal reserve buys and sells bonds to member banks, it is called a. monetary policy b. reserve ratio c. interest rate adjustment d. open market operations

1. the political environment in india has proven to be critical to company performance for both pepsico and coca-cola india. what specific aspects of the political environment have played key roles? could these effects have been anticipated prior to market entry? if not, could developments in the political arena have been handled better by each company? 2. timing of entry into the indian market brought different results for pepsico and coca-cola india. what benefits or disadvantages accrued as a result of earlier or later market entry? 3. the indian market is enormous in terms of population and geography. how have the two companies responded to the sheer scale of operations in india in terms of product policies, promotional activities, pricing policies, and distribution arrangements? 4. “global localization” (glocalization) is a policy that both companies have implemented successfully. give examples for each company from the case.