On January 2, 2016, Orange Corporation Purchased Equipment for $300,000

question 120

Multiple Choice

On January 2, 2016, Orange Corporation purchased equipment for $300,000 with an ADS recovery period of 10 years and a MACRS useful life of 7 years. Section 179 was not elected. MACRS depreciation properly claimed on the asset, including depreciation in the year of sale, totaled $79,605. The equipment was sold on July 1, 2017, for $290,000. As a result of the sale, the adjustment to taxable income needed to arrive at current E & P is:

• A)No adjustment is required.
• B)Decrease $49,605.
• C)Increase $49,605.
• D)Decrease $79,605.
• E)None of the above.

Understand the dynamics and processes involved in ecological succession, both primary and secondary.

Comprehend the importance and role of species diversity and how it impacts community stability.

Recognize the impact of environmental changes on species composition and community structure.

Analyze the effects of disturbances (natural or anthropogenic) on community recovery and structure.

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Definitions:

Call

In finance, a call refers to an option contract that gives the holder the right, but not the obligation, to buy a stock, bond, commodity, or other instruments at a specified price within a specific time period.

Stock Price

The cost of purchasing a share of a company, as traded on a stock exchange, reflecting the market's view of its collective prospects.

Value

The importance, worth, or usefulness of something, often measured in terms of money or utility.

Underlying Stock

Refers to the stock on which options contracts and other derivatives are based, and whose price movements they follow.