Vector Inc

question 99

True/False

Vector Inc.'s office building burns down on October 31,2014.Vector,a calendar year taxpayer,finally settles with the insurance company on February 3,2015.In order to defer the gain realized on the building,Vector must acquire another office building by February 3,2017.

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Definitions:

Marginal Costs

The incremental cost involved in producing one more unit of a product or service.

Learning Curve

The concept that people improve efficiency and decrease cost over time as they gain experience in a particular task or operation.

Marginal Productivity

The additional output that is produced by using one more unit of a particular input while keeping other inputs constant.

Marginal Cost

The additional expense incurred from producing and selling one more unit of a good or service.