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Barbara sold 100 shares of STP Company stock to her daughter, Doris, for $7,000. Th e stock originally cost Barbara $10,000. Doris later sells the stock on the open market for $8,000. Doris recognizes:

a. no gain or loss.

b. a $1,000 gain.

c. a $2,000 gain.

d. a $3,000 loss.

e. a $2,000 loss.

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M942797

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