During 2017, Vincent Tally gave to the municipal art museum title to his private collection of rare books that was appraised and valued at $60,000. However, he reserved the right to the collection's use and possession during his lifetime. For 2017, he reported an adjusted gross income of $100,000. Assuming that this was his only contribution during the year and that there were no carryovers from prior years, what amount can he deduct as contributions for 2017?

An adjusting entry always involves two balance sheet accounts

a. true b. false

A real estate agent form Oregon is involved in a commercial property transaction in Washington. The agent from Oregon must do all of the following EXCEPT:

A. associate with a Washington brokerage B. provide a copy of the out-of-state real estate license to the Washington firm C. deposit all records in the transaction with the firm in Washington D. register with the Department of Licensing at least 20 days before engaging in brokerage activities