Eliot inc. transferred an old asset with a $53,100 adjusted tax basis plus $5,000 cash in exchange for a new asset worth $75,000. which of the following statements is false? multiple choice none of the statements is false. if the exchange is nontaxable, eliot's recognized gain is $5,000. the old asset's fmv is $70,000. if the exchange is nontaxable, eliot's tax basis in the new asset is $58,100.

Atariff on avocadoes the price of avocadoes, consumers' surplus for avocado buyers, producers' surplus of avocado growers and tariff revenue. because the loss to is more than the gain to there is a net loss to society. raises; decreases; increases; generates; consumers; producers and government raises; increases; decreases; does not generate; producers and government; consumers lowers; increases; decreases; does not generate; producers and government; consumers raises; increases; decreases; generates; producers; consumers and government