Alpha Corporation Had Income from Operations of $30,000

question 73

Multiple Choice

Alpha Corporation had income from operations of $30,000.What is the corporation's taxable income including the following property transactions: Gain on investment stock held for two years = $8,000; loss on machinery held three years = $6,000; $4,000 loss on equipment held 10 months; $4,000 gain on land used for six years for storage of trucks.

• A)$25,000
• B)$27,000
• C)$30,000
• D)$32,000

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Definitions:

Genes

Units of heredity made up of DNA that are responsible for the genetic traits passed from parents to offspring.

DNA

Deoxyribonucleic Acid, a molecule that carries the genetic instructions used in the growth, development, functioning, and reproduction of all known living organisms and many viruses.

Genetic Material

The molecules—specifically DNA or RNA in some viruses—that carry the genetic information necessary for growth, development, functioning, and reproduction of living organisms.

Random Drift

A process in evolutionary biology in which allele frequencies within a population change due to chance rather than natural selection.