We've found 15 Fair Market Value tests

Crime Fair Market Value Past Tense State The Purpose
Police Report Writing Test Questions – Flashcards 43 terms
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Julia Rush
43 terms
Accounting Civil Law Fair Market Value Finance Legal Management Par Value Stock Publicly Held Corporation
accounting chapter 14 – Flashcards 37 terms
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Deacon Kirby
37 terms
Fair Market Value Marketing-Real Estate Real Estate Real Estate Finance Fundamentals
Real Estate Vocabulary – Flashcards 129 terms
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Margaret Bruce
129 terms
Contract For Sale Contracts Fair Market Value Parol Evidence Rule
Contracts: Third Party Beneficiaries; Assignments – Flashcards 46 terms
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Larry Charles
46 terms
Business Management Fair Market Value Information About Products Principles Of Marketing Product Differentiation Strategy Social Media Sites Supply Chain Management Software Using Social Media
Marketing Processes and Consumer Behavior Study Guide unit 5 – Flashcards 66 terms
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Ashlynn Thompson
66 terms
Fair Market Value Human Resources Manager Public Relations
Record Label Roles – Flashcards 54 terms
Mary Browning avatar
Mary Browning
54 terms
Fair Market Value Informed Decision Making Internal And External Factors Sports Marketing Third Party Payers
Occupational Therapy Manager Chapter 8: Marketing Occupational Therapy – Flashcards 62 terms
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Pedro Huang
62 terms
Civil Law Fair Housing Act Fair Market Value Long Term Contract Real Estate Finance Fundamentals Terms And Conditions
Real Estate: Property Management Exam Questions/Answers – Flashcards 19 terms
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Deloris Connelly
19 terms
Fair Market Value Financial Accounting Inventory Management
SAP Chapter 7 – Flashcards 87 terms
Brad Bledsoe avatar
Brad Bledsoe
87 terms
Fair Market Value Population Growth Rate
Wildlife Issues Topic 10-13 – Flashcards 120 terms
Mary Browning avatar
Mary Browning
120 terms
Civil Law Employer Employee Relationship Fair Housing Act Fair Market Value Hire And Fire Marketing-Real Estate Real Estate Finance Fundamentals Terms And Conditions
Oregon Real Estate License Study – Flashcards 269 terms
Ken Ericksen avatar
Ken Ericksen
269 terms
Accounting Civil Law Cost Accounting Fair Market Value Full Time Employee Research And Development Costs
Tax Exam 1 Practice Questions 172 terms
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Viola Marenco
172 terms
Accounting Civil Law Fair Market Value Federal Income Tax Publicly Traded Company Repair And Maintenance
Inc Tax Chp. 14 – Flashcards 49 terms
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Alice Rees
49 terms
Civil Law Fair Market Value Insurance Legal Management Limited Liability Company Limited Liability Partnership Long Term Capital Gain Long Term Capital Gains Mother And Daughter
Tax 21 – Flashcards 64 terms
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Jaxon Wilson
64 terms
Accounting Civil Law Fair Market Value Five Years Ago Intermediate Accounting 1
Week 5 ACCT 429 Practice Problems – Flashcards 13 terms
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Sienna Rogers
13 terms
53. Alice owns land with an adjusted basis of $610,000, subject to a mortgage of $350,000. Real estate taxes are $9,000 per calendar year and are payable on December 31. On April 1, 2014, Alice sells her land subject to the mortgage for $650,000 in cash, a note for $600,000, and property with a fair market value of $120,000. What is the amount realized?
d. $1,722,219
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55. The bank forecloses on Lisa’s apartment complex. The property had been pledged as security on a nonrecourse mortgage, whose principal amount at the date of foreclosure is $750,000. The adjusted basis of the property is $480,000, and the fair market value is $750,000. What is Lisa’s recognized gain or loss?
a. $270,000
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63. Joyce’s office building was destroyed in a fire (adjusted basis of $350,000; fair market value of $400,000). Of the insurance proceeds of $360,000 she receives, Joyce uses $310,000 to purchase additional inventory and invests the remaining $50,000 in short-term certificates of deposit. She received only $360,000 because of a co-insurance clause in her insurance policy. What is Joyce’s recognized gain or loss?
c. $10,000 gain
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In January, Lance sold stock with a cost basis of $26,000 to his brother, James, for $24,000, the fair market value of the stock on the date of sale. Five months later, James sold the same stock through his broker for $27,000. What is the tax effect of these transactions?
Disallowed loss to Lance of $2,000; gain to James of $1,000.
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An acquisition premium is the amount by which the price offered for an existing business exceeds: A. the fair market value of similar companies in the same geographic locale. B. the preacquisition market value of the target company. C. the comparable value of similar companies within the same market. D. the amount paid as a down payment to be held in escrow until closing. E. the difference between the amount that was offered and the amount that is escrowed.
B. the preacquisition market value of the target company.
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How does an increase in the fair market value of an asset affect the financial statements?
No affect
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The valuation of assets on the balance sheet is generally based on A) selling price B) what it would cost to replace C) current fair market value as established by independent appraisers D) historical cost
D) historical cost
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The valuation of assets on the balance sheet is generally based on a. current fair market value as established by independent appraisers b. what it would cost to replace the asset c. historical cost d. selling price
c. historical price
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The difference between the price paid to acquire another company and the fair market value of that company’s net assets can be referred to as
goodwill, a gaap filler, or a master valuation account
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Which of the following statements is not correct with respect to contributions to a private not-for-profit? A) Contributions to a not-for-profit are recorded at fair market value at the date of receipt. B) Contributions of assets other than cash to a not-for-profit are recorded at the donor’s basis. C) Contributions to a not-for-profit may be restricted as to purpose or time or for plant acquisition. D) Revenues, including contributions are considered to be unrestricted unless donor-imposed restrictions apply.
B) Contributions of assets other than cash to a not-for-profit are recorded at the donor’s basis.
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