If the liabilities the corporation assumes are more than your adjusted basis in the property you transfer, gain is recognized up to the difference. However, if the liabilities assumed give rise to a deduction when paid, such as a trade account payable or interest, no gain is recognized.
Because Aruba was once a Dutch state of sovereignty, the island's official language is Dutch. No need to arrange a translator, however, because both English and Spanish are widely spoken.aps. Papiamento, a wild combination of Dutch, English, French, Portuguese and Spanish, is the language originated in the trio of islands called the ABC islands. This language reflects their open-armed acceptance of other cultures.
1 Carib language, also known as Kalina, the language of the South American Caribs. 2  Island Caribs, or simply Caribs, an indigenous people of the Lesser Antilles in the Caribbean. 3  Island Carib language, or simply Carib, the language of the Island Caribs. Cariban languages, the wider family of languages that includes Carib (but not Island Carib). 2  Black Carib, indigenous people from the island of Saint Vincent, descended from Island Caribs and black slaves. 3  Garifuna people, Central American people descended from Saint Vincent's Black Caribs.