In 2017, Mark Has $18,000 Short-Term Capital Loss, $7,000 28

question 66

Multiple Choice

In 2017, Mark has $18,000 short-term capital loss, $7,000 28% gain, and $6,000 0%/15%/20% gain. Which of the statements below is correct?

• A)Mark has a $5,000 capital loss deduction.
• B)Mark has a $3,000 capital loss deduction.
• C)Mark has a $13,000 net capital gain.
• D)Mark has a $5,000 net capital gain.
• E)Mark has a $18,000 net capital loss.

---

Definitions:

Operating Budget

An estimate of income and expenditure for a set period of time.

Production Budget

An estimate of the total cost of production, including materials, labor, and overhead, for a specific period.

Direct Labour-Hours

The total amount of hours worked by employees directly involved in the manufacturing process.

Manufacturing Overhead

Refers to all the indirect costs associated with the production process, excluding direct materials and direct labor.