Some company executives become so committed to a current, profitable technology that they fail to provide adequate levels of investment in new, apparently riskier technologies

Intentional misrepresentation occurs when a wrongdoer deceives another person out of money, property, or something else of value

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