Enrico Is a Self-Employed Electrician

question 69

Multiple Choice

Enrico is a self-employed electrician.In May of the current year,Enrico acquired a used van (5-year property) for $12,000.He used the van 30% for business.Bonus depreciation is not applied.The maximum depreciation deduction for the van is

• A)$360.
• B)$720.
• C)$2,400.
• D)$1,980.

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Definitions:

Good News Earnings

Earnings reports that exceed investors' expectations, positively influencing the company's stock price.

Stock Returns

The returns a shareholder earns on their investment, including both price appreciation and dividends.

Earnings Announcement Date

The specified day on which a company publicly releases its financial performance results for a given period.

IASB

International Accounting Standards Board; the organization responsible for developing and publishing the International Financial Reporting Standards (IFRS).