Earl and mary form crow corporation. earl transfers property, basis of $200,000 and value of $1,600,000, for 50 shares in crow corporation. mary transfers property, basis of $80,000 and value of $1,480,000, and agrees to serve as manager of crow for one year; in return mary receives 50 shares of crow. the value of mary's services is $120,000. with respect to the transfers:

a. mary will not recognize gain or income.
b. earl will recognize a gain of $1,400,000.
c. crow will have a business deduction of $120,000 for the value of the services mary will render.
d. crow corporation has a basis of $1,480,000 in the property it received from mary.
e. none of these choices are correct.

Why does an organization prepare a balance sheet? a. to reveal what the organization owns and owes at a point in time b. to reveal how well the company utilizes its cash c. to calculate retained earnings for a given accounting period d. to calculate gross profit for a given accounting period

1. list five staple convenience goods that you or your household buys on a regular basis. (you do not need to use complete sentences. 2.5 points) 2. list three impulse convenience goods that you or someone you know has purchased. (you do not need to use complete sentences. 2.5 points) 3. describe a shopping good that you or someone you know purchased. what kind of research did you or that person do before buying the product? (1-5 sentences. 3.0 points) 4. choose an example of a company you could start, and decide which business structure would make the most sense for that type of company (sole proprietorship, partnership, llc, c corporation, s corporation, or nonprofit corporation). explain why this structure would be good for this type of company. give at least 3 reasons. (3-6 sentences. 6.0 points) 5. if you were starting a new business, describe at least three departments to the company that you would need right away. why are these departments so important? (1-5 sentences. 3.0 points) 6. describe a product that you think has saturated its market. what makes you think it has saturated its market? (1-5 sentences. 3.0 points)

Susan is a 5th grade teacher and loves getting up every day and going to work to teach her students. this is an example of a. extrinsic value b. interests c. intrinsic value d. external value