A benefit of point estimates is that they provide information about their accuracy

Asset-based financing is an efficient means of borrowing because the business only pays for the capital it actually needs and uses

Indicate whether the statement is true or false.

Ruth transfers property worth $200,000 (basis of $60,000) to Goldfinch Corporation. In return, she receives 80% of its stock (worth $180,000) and a long-term note, executed by Goldfinch and made payable to Ruth (worth $20,000). Ruth will recognize no gain on the transfer

a. True b. False Indicate whether the statement is true or false