Mark and His Brother,Rick,each Own Farms

question 27

Multiple Choice

Mark and his brother,Rick,each own farms.Rick is experiencing severe financial difficulties and cannot afford to buy feed for his cattle.Mark purchases $2,000 of feed and gives Rick one-half of the feed.Mark tells Rick that there is no need to repay him and to consider the feed a gift.Which of the following statements is true?

• A)Mark can deduct $2,000 for the feed.
• B)Mark can deduct $1,000 for the feed.
• C)Rick must report $1,000 as income.
• D)None of the above is true.

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Definitions:

Reward Learning

A type of learning in which an individual's behavior is motivated and shaped by the anticipation of rewards.

Little Albert

An experiment in classical conditioning where a baby was taught to fear a white rat by pairing it with loud noises.

Trained

Having acquired specific skills or knowledge through instruction or practice.

Self-actualization

The realization or fulfilment of one's talents and potentialities, considered as a drive or need present in everyone.