David’s basis in the Jimsoo Partnership is $62,000. In a proportionate liquidating distribution, David receives cash of $8,800 and two capital assets:

(1) Land A with a fair market value of $23,600 and a basis to Jimsoo of $18,700, and
(2) Land B with a fair market value of $11,350 and a basis to Jimsoo of $18,700. Jimsoo has no liabilities.

If the two parcels of land had been inventory to Jimsoo, what are the tax consequences to David (amount and character of gain or loss)?

answer: b) the us is the leading importer but not the leading exporter.

extra info:

the u.s is the largest importer but it is not the largest exporter as china sits on the top of the table when it comes to leading exporters.

but u.s is not far from first,

they rank in 2nd globally as the worlds largest exporter.

happy to

pls mark as brainliest

the correct answer is economics is a game without winners or losers.

unlike sports or games economic is a game without losers or winner rather it is a game where everyone wins. parties of business doing businesses exchange money with each other and hence exchange is done on the basis of goods. one party takes the goods and other sales it so there is winner on both sides. each party values more highly the good it gets than the good it gives up. both sides exchange only because both intend to increase their value. so there is no concept of lose or win.

okay lol !

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