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.
The largest city and capital is Oranjestad, located near the western end of the island. Often called Playa, it has a population estimated at 30,000. Aruba's population is believed to be 80% mixed Black/White/Caribbean Amerindian and 20% other ethnicities.long with Bonaire and Curacao, it forms the ABC islands. Aruba is one of 4 constituent countries that create the Kingdom of the Netherlands, thus its citizens are Dutch. The estimated 2015 population of Aruba is 103,900. This makes Aruba the 197th most populous country in the world.