In the Current Year,Marcus Reports the Following Casualty Gains and Losses

question 91

Multiple Choice

In the current year,Marcus reports the following casualty gains and losses on personal-use property.Assets X and Y are destroyed in the first casualty while Z is destroyed in a second casualty. As a result of these losses and insurance recoveries,Marcus must report

• A)a net gain of $3,700.
• B)a long-term gain of $4,900 on asset X; a short-term capital loss of $900 on asset Y; and a short-term capital loss of $200 on asset Z.
• C)a long-term capital gain of $5,000 on asset X; a short-term capital loss of $900 on asset Y; and a short-term capital loss of $200 on asset Z.
• D)a long-term capital gain of $5,000 on asset X; a short-term capital loss of $900 on asset Y; and a short-term capital loss of $300 on asset Z.

---

Definitions:

Émile Durkheim

Émile Durkheim was a pioneering French sociologist known for his contributions to the understanding of social structures, collective conscience, and the role of religion and education in society.

Violent Means

Refers to the use of physical force or aggression to achieve a particular end, often in the context of conflict or to enforce a point of view.

Social Solidarity

The bonds of unity between individuals within a society that stem from shared values, interests, and activities.

Social World

The realm of human interaction and relationships, encompassing various social structures and patterns.