In 1980,Mr

question 57

Multiple Choice

In 1980,Mr.Lyle purchased a factory building to use in business for $480,000.When Mr.Lyle sells the building for $580,000,he has taken depreciation of $470,000.Straight-line depreciation would have been $400,000.Mr.Lyle must report

• A)$570,000 of ordinary gain.
• B)$570,000 of Sec.1231 gain.
• C)$70,000 of ordinary income and $500,000 of Sec.1231 gain.
• D)$470,000 of ordinary gain and $100,000 of Sec.1231 gain.

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Self-managed Team

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Marketing Department

A division within a company responsible for promoting products or services, developing strategies, and managing customer relationships.

Accounts Receivable

Money owed to a business by its clients or customers for goods or services that have been delivered but not yet paid for.

Virtual Team

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