Mandel transferred property to his new corporation in a section 351 transaction. among the several properties transferred by mandel was land with a fair market value of $200,000 and a tax basis of $250,000. in all cases, the corporation will always take a tax basis in the land of $200,000 to prevent the "built-in loss" from being transferred from mandel to the corporation.
true / false.

Suppose that the world price of steel is $100 a ton, india does not trade internationally, and the equilibrium price of steel in india is $60 a ton. suppose that india now begins to trade internationally. the price of steel in india the quantity of steel produced in india a. does not change; does not change b. falls; increases c. falls; decreases d. rises; decreases e. rises; increases the quantity of steel bought by india india steel. a. increases; exports b. decreases; imports c. decreases; exports d. does not change; neither imports nor exports e. increases; imports

Your debit card is stolen, and you report it to your bank within two business days. how much money can you lose at most? a. $500 b. $25 c. $50 d. $150

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