Ron's building, which was used in his business, was destroyed in a fire. Ron's adjusted basis in the building was $210,000, and its FMV was $330,000. Ron filed an insurance claim and was reimbursed $300,000. In that same year, Ron invested $240,000 of the insurance proceeds in another business building. Ron's basis in the new building is

Upon policy delivery, which of the following must a producer have an applicant sign if no initial premium was collected with the life insurance application?

A) A waiver of premium B) A replacement form C) A good health statement D) An exclusion

What shows international transactions that involve currently produced goods and services?

A) Current account B) Balance of payments C) Trade balance D) Capital account