A Barn Held More Than One Year and Used in a Business

question 58

Multiple Choice

A barn held more than one year and used in a business is destroyed in a tornado. The barn originally cost $356,000 and was fully depreciated using straight-line depreciation. The barn was insured for its $543,000 replacement cost minus a deductible of $1,000. Which of the statements below is correct concerning these facts?

• A) The barn was a long-term personal use asset.
• B) There is a casualty loss from disposition of the barn.
• C) The recognized gain from disposition of the barn is $186,000.
• D) The recognized gain from disposition of the barn is subject to special netting rules.
• E)C and d.

Identify and describe the macroscopic and microscopic structures of the urinary system.

Understand the function and structural importance of the glomerular capsule in the renal system.

Explain the process and direction of urine flow through the urinary system.

Identify and describe the role of smooth muscle and sphincters in urine propulsion and control.

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Definitions:

Cognitive Dissonance

A psychological phenomenon where an individual experiences discomfort due to holding contradictory beliefs or values, leading to an alteration in one of the conflicting elements to reduce the dissonance.

Minimize

To reduce something to the least possible amount or degree.

Dissonance

A state of conflict or inconsistency between a person's beliefs, attitudes, or actions, often leading to discomfort and change.

Cognitive Dissonance

A psychological phenomenon in which an individual experiences discomfort or distress from holding two or more contradictory beliefs, ideas, or values at the same time.