Mr. brown transferred property, which had an adjusted basis to him of $40,000 and a fair market value of $50,000, to corporation b in exchange for 100% of b’s only class of stock and $15,000 cash. at the time of the transfer, the stock had a fair market value of $35,000. what is the amount of gain to be recognized by mr. brown?

The state troopers in one state have a motto, “nine you’re fine; ten you’re mine,” which is the standard that they use for pulling over speeders on the state highways. in other words, if the posted speed limit is 55 mph, drivers can drive at a rate up to 64 mph without fear of getting a ticket. which of the following best describes the ethical culture in the state? a. the troopers are following a standard of positive law. b. the troopers are following a normative standard. c. the troopers are following a headline test. d. the troopers are following the blanchard/peale standard.