Noelle Owns an Automobile Which She Uses for Personal Use

question 184

Multiple Choice

Noelle owns an automobile which she uses for personal use.Her adjusted basis is $45,000 (i.e., the original cost) .The car is worth $22,000.Which of the following statements is correct?

• A)If Noelle sells the car for $22,000, her realized loss of $23,000 is not recognized.
• B)If Noelle exchanges the car for another car worth $22,000, her realized loss of $23,000 is not recognized.
• C)If the car is stolen and it is uninsured, Noelle may be able to recognize part of her realized loss of $23,000.
• D)Only a.and b.are correct.
• E)a., b., and c.are correct.

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Definitions:

Positive Emotions

Feelings that are considered pleasant or desirable, such as happiness, joy, or love.

Job Satisfaction

The degree of satisfaction workers experience regarding their job, influencing their output and general health.

Discrepancy Theory

A theory suggesting that dissatisfaction arises from a gap between an individual's desired and actual states.

Job Satisfaction

The level of contentment employees feel about their job roles, which can affect their performance and commitment to an organization.