Legislation that permits depository institutions to compete with money market mutual funds on an equal basis with respect to interest rates offered to investors is the:

A tenant can lawfully withhold rent as compensation for a landlord's breach of a term of the lease

Indicate whether the statement is true or false

Gold Company was experiencing financial difficulties, but was not bankrupt or insolvent. The National Bank, which held a mortgage on other real estate owned by Gold, reduced the principal from $110,000 to $85,000 . The bank had made the loan to Gold when it purchased the real estate from Silver, Inc Pink, Inc, the holder of a mortgage on Gold's building, agreed to accept $40,000 in full payment

of the $55,000 due. Pink had sold the building to Gold for $150,000 that was to be paid in installments over 8 years. As a result of the above, Gold must: a. Include $40,000 in gross income. b. Reduce the basis in its assets by $40,000. c. Include $25,000 in gross income and reduce its basis in its assets by $15,000. d. Include $15,000 in gross income and reduce its basis in the building by $25,000. e. None of these.