Harrison Corporation Sells a Building for $330,000 in the Current

question 57

Multiple Choice

Harrison Corporation sells a building for $330,000 in the current year.Harrison purchased the building in 2004 for $250,000 and had taken $20,000 in depreciation on the building up to the date of its sale.How should Harrison report the gain on the sale of the building?

• A)Section 1231 gain of $100,000.
• B)Ordinary income of $100,000.
• C)Section 1231 gain of $80,000 and ordinary income of $20,000.
• D)Section 1231 gain of $96,000 and ordinary income of $4,000.
• E)Ordinary income of $96,000 and Section 1231 gain of $4,000.

Distinguish between various bones based on their size, shape, and surface features.

Recognize and label different components of the skeletal system.

Understand the orientation and comparative anatomy terms and their proper usage.

Identify and describe the major body planes and sections.

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Definitions:

Density-Dependent Factor

Biotic factor, such as disease or competition, that affects population size in a direct relationship to the population’s density.

Density-Independent Factor

Abiotic factor, such as fire or flood, that affects population size independent of the population’s density.

Virus

Acellular parasitic agent consisting of an outer capsid of protein and an inner core of nucleic acid (DNA or RNA).

Inhibition Model

A conceptual framework used to describe how certain substances or processes decrease the rate or effectiveness of a chemical reaction or a biological function.