In 1980,Artima Corporation Purchased an Office Building for $400,000 for Use

question 43

Multiple Choice

In 1980,Artima Corporation purchased an office building for $400,000 for use in its business.The building is sold during the current year for $550,000.Total depreciation allowed for the building was $350,000; straight-line would have been $320,000.As result of the sale,how much section 1231 gain will Artima Corporation report?

• A)$350,000
• B)$406,000
• C)$320,000
• D)$500,000

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Definitions:

Terminal Bronchioles

The smallest air passages in the lungs that lead to the alveolar ducts, playing a crucial role in the transfer of oxygen and carbon dioxide.

Respiratory Bronchioles

The smallest airways in the respiratory system, through which air passes before reaching the alveolar sacs for gas exchange.

Thyrohyoid Ligament

A fibrous connective tissue that connects the thyroid cartilage to the hyoid bone, supporting the larynx.

Glottis

The opening between the vocal cords in the larynx, involved in producing phonation.