Amy, Becky, and Chau form a business entity with each contributing the following. Adjusted Basis Fair Market Value Amy: Cash $100,000 $100,000 Becky: Land $60,000 120,000 Chau: Services 50,000 Their ownership percentages will be as follows. Amy 40% Becky 40% Chau 20% Becky's land has a $20,000 mortgage that is assumed by the entity. Chau is an attorney who receives her ownership interest in exchange for legal services. Determine the recognized gain to the owners, the basis for their ownership interests, and the entity's basis for its assets under each entity scenario.

One of your new suppliers, kim, has been hearing rumors about your firm’s lack of capability to deliver high quality products and writes an email asking you to address the claims being made. in replying to her, you want to be sure that you are very clear and leave no room for misinterpretation. which of the following aspects of effective communication should you give the most attention? (a) making sure you understand kim’s areas of expertise. (b) supporting your reply with relevant data and facts. (c) establishing your credibility as an expert. (d) paying attention to implied communications.