Which statement regarding individual liability insurance policies is correct? select one:
a. an independent contractor would not be sued and therefore does not need liability coverage.
b. a personal liability policy is not necessary if the healthcare professional is employed in any capacity at a healthcare facility, because the facility's policy will cover his or her actions.
c. a person who does not own any property does not have anything to protect and therefore does not need a liability policy.
d. independent contractors may require individual liability coverage even though he or she may be covered under a healthcare facility's policy.
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Ответ:
D. Independent contractors may require individual liability coverage even though he or she may be covered under a healthcare facility's policy.
Ответ:
$842
Explanation:
The computation of corporation's tax basis in the property received in the exchange is shown below:-
corporation's tax basis = Fair market value + Transaction
= $800 + $42
= $842
Therefore, The corporation's tax basis should be equivalent to the shareholder's tax basis as the property is transferred for $800 (a substituted basis) and add gain recognized of $42. And If the corporation sells the property for $960, the recognized gain would be $52.