Dennis contributed business assets to a new business in exchange for stock in the company. the exchange did not qualify as a tax-deferred exchange. the fair market value of these assets was $370,000 on the contribution date. dennis’s original basis in the assets he contributed was $218,000, and the accumulated depreciation on the assets was $136,500. what is the business's basis in the assets it received from dennis? what would be the business's basis if the transaction qualified as a tax-deferred exchange?

Arestaurant that creates a new type of sandwich is using (blank) as a method of competition.

Tri fecta, a partnership, had revenues of $369,000 in its first year of operations. the partnership has not collected on $45,000 of its sales and still owes $39,500 on $155,000 of merchandise it purchased. there was no inventory on hand at the end of the year. the partnership paid $27,000 in salaries. the partners invested $48,000 in the business and $23,000 was borrowed on a five-year note. the partnership paid $2,070 in interest that was the amount owed for the year and paid $9,500 for a two-year insurance policy on the first day of business. compute net income for the first year for tri fecta.

Which of the following is a competitive benefit experienced by the first mover firm in an industry? a. the first mover will be able to achieve a less steep learning curve. b. the first mover will be able to reduce the switching costs. c. the first mover will not have to patent its products or technology. d. the first mover will be able to reduce costs through economies of scale.