David Acquired an Automobile for $30,000 for Use in His

question 14

Multiple Choice

David acquired an automobile for $30,000 for use in his unincorporated business at the beginning of 2019 and used the standard mileage rate method in 2019.He plans to switch to the actual expense method for 2020.The automobile was used 25,000 miles for business purposes in 2019.What is the amount of the adjusted basis of the automobile for purposes of computing depreciation in 2020?

• A)$30,000
• B)$16,625
• C)$23,500
• D)$23,750

Understand the differences between prototypes, exemplars, and stereotypes.

Grasp the significance of societal and cultural differences in shaping perceptions and categorizations.

Understand how the accentuation principle applies to perception and categorization.

Recognize the individuals’ differences in using schemas based on their needs and cognitive closure requirements.

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Definitions:

Endocrinologist

is a medical specialist focused on the diagnosis and treatment of hormonal imbalances and problems within the body's endocrine system.

Hyperthyroidism

A condition in which the thyroid gland produces too much thyroid hormone, leading to increased metabolism.

Stroke

A medical condition that occurs when the blood supply to part of the brain is interrupted or reduced, preventing brain tissue from getting oxygen and nutrients.

Cleft Lip

A congenital deformity characterized by a split or opening in the upper lip, which may affect appearance, speech, and eating.