Which of the Following Events Would Produce a Deductible Loss

question 19

Multiple Choice

Which of the following events would produce a deductible loss in 2018?

• A) Erosion of personal use land due to rain or wind.
• B) Termite infestation of a personal residence over a several year period.
• C) Damages to personal automobile resulting from a taxpayer's willful negligence.
• D) A misplaced diamond ring.
• E) None of the above.

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Definitions:

Norris-LaGuardia Act

U.S. legislation passed in 1932 that restricts the power of courts to issue injunctions against nonviolent labor disputes.

Union Organizers

Individuals responsible for forming, expanding, and maintaining labor unions by rallying workers and facilitating the unionization process.

Right-To-Work Law

Legislation that prohibits union security agreements between companies and workers' unions, allowing individuals in the workforce to work without being compelled to join a union.

Union Shop

A place of employment where nonunion workers may be employed for a trial period of not more than 30 days, after which the nonunion workers must join the union or be discharged.