In year 1, Stone, a cash basis taxpayer, incorporated her CPA practice. No liabilities were transferred. The following assets were transferred to the corporation: Cash (checking account) $500 Computer equipment: Adjusted Basis 30,000 Fair market value 34,000 Cost 40,000 Immediately after the transfer, Stone owned 100% of the corporation’s stock. The corporation’s total basis for the transferred assets is: a. $30,500 b. $40,500 c. $30,000 d. $34,500

Jing-sheng facilitated a hiring committee for his advertising company. six employees (including two managers) met together to discuss applicants and select the finalists for a copywriter position in the public relations department. although the head of public relations would have the final nod on the candidate that would ultimately be hired, the evaluative work of the committee was very important because this group would send forward those persons they believed would be good work colleagues. in setting up this type of hiring process, the head of public relations was utilizing a(n) style of leadership.a. autocraticb. free-reinc. contingentd. participative

Taking commercial paper means the holder acts honestly

Robert owns a life insurance policy that he purchased when he first graduated college. it has a $100,000 death benefit and robert pays premiums for it every month out of his checking account. the insurance robert has is most likely da. permanent life insurance o b. term life insurance o c. group life insurance o d. individual life insurance