On November 1, Year 1, Jamie (Who Is Single)purchased and Moved

question 88

Multiple Choice

On November 1, year 1, Jamie (who is single) purchased and moved into her principal residence. In the early part of year 2, Jamie was laid off from her job. On February 1, year 2, Jamie sold the home at a $35,000 gain. She sold the home because she found a new job in a different state. How much of the gain, if any, may Jamie exclude from her gross income in year 2?

• A)$0.
• B)$3,125.
• C)$31,250.
• D)$35,000.

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Definitions:

Autonomous Morality

The second stage in Piaget’s cognitive-developmental theory of moral development, in which children base moral judgments on the intentions of the wrongdoer and on the amount of damage done.

Objective Morality

The perception of morality as objective, that is, as existing outside the cognitive functioning of people.

Piaget's Theory

A theory of cognitive development that describes how children construct a mental model of the world through stages of learning.

Active Discovery

A learning approach where individuals learn by engaging directly with materials, environments, or situations, leading to increased understanding and retention of knowledge.