Given two statistically independent events (A,B), the joint probability of P(AB) = P(

In determining gain or loss on real property acquired by purchase, for federal income tax purposes, the term "unadjusted basis" most nearly means:

A: Original cost; B: Original cost plus improvements minus losses; C: Original cost plus or minus improvement costs, losses and depreciation; D: Original cost minus losses.

Gwen is in charge of accounting at Integrity Insurance Company. Integrity is a publicly-traded insurer. In describing her job, Gwen said, "There aren't too many businesses where you are required to keep two sets of books."

Gwen's comment most likely refers to her company A) preparing accounting statements using statutory and GAAP accounting. B) preparing one set of records for the insurer's managers and another set for the policyholders. C) preparing one set of books using dishonest values and another set using current market values. D) preparing one set of accounting statements considering investment income and another set of accounting statements not considering investment income.