Bensol Co. and Sable Co. exchanged similar trucks with fair values in excess of carrying amounts. In addition, Bensol paid Sable to compensate for the difference in truck values.
The exchange has commercial substance.
As a consequence of the exchange, Sable recognizes

A. A gain equal to the difference between the fair value and carrying amount of the truck given up.
B. A gain determined by the proportion of cash received to the total consideration.
C. A loss determined by the proportion of cash received to the total consideration.
D. Neither a gain nor a loss

Suppose that a father is walking his young daughter to school when a driver of an automobile negligently runs off the road and onto the sidewalk, hitting the girl but not her father. the young girl dies from her injuries. the father suffers severe emotional distress by seeing his daughter die and manifests his distress by suffering physically. which of the following is an accurate statement regarding the father's right to sue and recover damages from the driver of the automobile? a. the father can sue and recover damages from the driver of the automobile for intentional infliction of emotional distress for the severe distress he suffered by seeing his daughter die. b. the father cannot sue the driver since tort law does not recognize strict liability for automobile accidents. c. the father cannot sue the driver since the driver did not intend to cause harm. d. the father can sue and recover damages from the driver of the automobile for negligent infliction of emotional distress for the severe distress he suffered by seeing his daughter die. e. the father cannot sue the driver since he did not suffer physical injury himself.