During 2014 and 2015,Danny Pays Property Taxes of $3,500 Each

question 20

Multiple Choice

During 2014 and 2015,Danny pays property taxes of $3,500 each year on a piece of land.During 2014,the land is vacant and unproductive.In 2015,Danny uses the land as a parking lot and generates $16,000 in income.Which of the following is true regarding the property taxes?

• A)Capitalize $3,500 each year.
• B)Deduct $3,500 each year.
• C)Capitalize $3,500 in 2014 and deduct $3,500 in 2015.
• D)Either B or C is acceptable.

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Definitions:

Proof Of Incineration

A documented verification that specific materials have been destroyed by burning.

Multifactor Authentication

A security system that requires more than one method of verification from independent categories of credentials to verify the user's identity for a login or other transaction.

Principle Of Least Privilege

A security measure in which a user receives only enough security permissions (on devices, files, network resources, and so on) to do his or her job.

Security Breaches

Unauthorized access into a computer system or data, often leading to the compromise of personal, financial, or business information.