On July 1 of the Current Year,Marcia Purchases a New

question 72

Multiple Choice

On July 1 of the current year,Marcia purchases a new home and borrows $320,000.Marcia is required to pay two points on the loan.The loan is secured by the residence and the charging of points is an established business practice in the area.The term of the loan is 20 years,beginning on July 1 of the current year.How much,if any,of the points may Marcia deduct in the current year?

• A)$0
• B)$160
• C)$3,200
• D)$6,400

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Definitions:

Committees

Groups of individuals within an organization, designated to focus on specific tasks or make decisions.

Assigning Managers

The process of designating individuals to managerial positions where they are responsible for overseeing the work of others and making decisions on behalf of an organization.

Technologies

Refers to the application of scientific knowledge for practical purposes, especially in industry and improvements to tools, machines, and software.

James D. Thompson

A scholar known for his contributions to organizational theory, particularly regarding organizations as open systems.