Brittany sold her stock (the basis of $60,000) to her brother, Ridge, for $35,000, the fair market value. Her brother subsequently sells the stock to the third party for $34,000. What is Ridge’s recognized gain or (loss)?

Brittany sold her stock (the basis of $60,000) to her brother, Ridge, for $35,000, the fair market value. Her brother subsequently sells the stock to the third party for $34,000.

Ridge’s recognized gain or (loss) is ($ 1,000).

Explanation:

The formula for calculating recognized Gain/[loss] is expressed below:

Recognized Gain/[loss] = Sales Price - Fair Market Value at the time of purchase from Brittany

Recognized Gain/[loss] = $ 34,000 - $ 35,000 = [$ 1,000]

Based on the calculation above, Ridge’s recognized gain or (loss) is ($ 1,000).

d, conspicuous consumption is when you try to increase your wealth or social status (and in the case he's trying to create the perception of wealth considering he can't really afford it)

answer; blank (1) hrm specialists,blank(2); line managers;