Colleen Operates a Business as a Sole Proprietorship

question 121

Multiple Choice

Colleen operates a business as a sole proprietorship. She purchased a computer for $10,000 last year. The computer is five-year recovery property for MACRS purposes and is depreciated under the regular MACRS rules. This year, Colleen incorporates the business and transfers the computer to the new corporation on July 20. The depreciation on the computer for this year allocable to the sole proprietorship is

• A)$1,868.
• B)$1,600.
• C)$1,333.
• D)$500.

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Definitions:

Delusional Thinking

Delusional Thinking refers to a psychological condition where an individual holds strong beliefs that are contradicted by reality or rational argument, typically a symptom of major mental illnesses like schizophrenia.

Mental Health Centers

Facilities focused on providing a variety of services for mental health care, including diagnosis, counseling, therapy, and support.

Psychotherapy

A form of therapy involving psychological methods, particularly when based on regular personal interaction with adults, to help a person change behavior and overcome problems in desired ways.

Emergency Care

Immediate and rapid medical assistance provided to individuals suffering from acute illness or injury, aimed at preventing death or further harm.