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:

Attribution-Helplessness Theory

A psychological theory suggesting how people attribute events to causes, which can lead to feelings of helplessness and depression when they perceive no control over the outcomes.

Attributional Dimensions

The perceived reasons or causal explanations people assign to events and behaviors, influencing their reactions and attitudes.

Unipolar Depression

A form of depression characterized by a persistent low mood and lack of interest in activities, without the manic episodes of bipolar disorder.

Bipolar Disorders

A group of mood disorders characterized by drastic mood swings that include emotional highs (mania or hypomania) and lows (depression).