In May 2017, Stephen Acquired a Used Automobile for $12,000

question 13

Multiple Choice

In May 2017, Stephen acquired a used automobile for $12,000 that he used 75% for business. No Sec. 179 election was made. In 2017, Stephen's business use of the automobile decreases to 45%. As a result of this change in business use:

• A) The change does not affect the way Stephen computes his 2017 depreciation
• B) Stephen's depreciation in 2017 is $2,250.
• C) Stephen must recapture $900 as ordinary income in 2017
• D) Stephen must amend the 2017 tax return and recompute depreciation.

Identify different types of retail operations and their characteristics.

Recognize the role that retailing plays in providing products and services to consumers for personal, family, or household use.

Understand the global presence of large retailers and their strategies.

Comprehend the significance of retail sales data in the United States and the economic impact of the retail industry.

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Definitions:

Faster

Relates to speed; being quicker in movement, action, or progress as compared to another reference point or unit.

Social Psychological

Relating to how social influences affect individual behavior and mental processes.

Cultural Value

A system of beliefs, moral codes, and customs shared by a society, influencing its members' behavior and attitudes.

Commencement Ceremony

A formal event celebrating the completion of academic studies, marking the awarding of degrees.