Octet Corporation Placed a Small Storage Building in Service 15

question 21

Multiple Choice

Octet Corporation placed a small storage building in service 15 years ago.Octet's original cost for the building is $800,000 and the cost recovery deductions are $300,000.This year the building is sold for $1,100,000.The amount and character of the gain are

• A)ordinary gain of $60,000 and Sec.1231 gain of $540,000.
• B)ordinary gain of $300,000 and Sec.1231 gain of $300,000.
• C)ordinary gain of $600,000.
• D)Sec.1231 gain of $600,000.

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Definitions:

Broca's Aphasia

A condition resulting from damage to the Broca's area of the brain, affecting speech production and causing difficulties in speaking and writing coherently.

Motor Programs

Sequences of motor movements that are either innate or learned and are activated by sensory stimuli or intentions.

Speech

The ability to express thoughts and feelings by articulating sounds.

A1

Refers to the primary auditory cortex, the region of the brain responsible for processing auditory information.