Which of the Following Is Correct

question 43

Multiple Choice

Which of the following is correct?

• A)The Section 1231 lookback rule converts potential long-term capital gain into ordinary income.
• B)The Section 1231 lookback rule converts ordinary gain into ordinary loss.
• C)The Section 1231 lookback rule converts casualty gain into long-term capital gain.
• D)The Section 1231 lookback rule applies only to realty.

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Definitions:

Variable-Interval

A timetable for reinforcement where the time intervals between receiving reinforcement vary around a certain average but are unpredictable.

Reinforcement

A principle in behavioral psychology where an outcome or consequence of a behavior increases the likelihood of that behavior occurring again in the future.

Decreases

A reduction in size, quantity, or degree.

Punishment

A consequence imposed for breaking a rule or law, intended to discourage the behavior.