In 1980,Mr

question 57

Multiple Choice

In 1980,Mr.Lyle purchased a factory building to use in business for $480,000.When Mr.Lyle sells the building for $580,000,he has taken depreciation of $470,000.Straight-line depreciation would have been $400,000.Mr.Lyle must report

• A)$570,000 of ordinary gain.
• B)$570,000 of Sec.1231 gain.
• C)$70,000 of ordinary income and $500,000 of Sec.1231 gain.
• D)$470,000 of ordinary gain and $100,000 of Sec.1231 gain.

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Definitions:

Long-term Memory

The aspect of memory capable of storing information for long periods, ranging from hours to a lifetime, including facts, experiences, and skills.

Autobiographical Memory

The aspect of memory that involves the recollection of personal experiences and events from one's own life.

Long-term Memory

A type of storage in the human brain that is capable of holding information for an extended period, ranging from minutes to a lifetime.

Longevity

The length of an individual’s life, often associated with factors like genetics, lifestyle choices, and healthcare access.