Alvin Is Employed by an Automobile Dealership as Its Manager

question 90

Multiple Choice

Alvin is employed by an automobile dealership as its manager.As such, he purchased an SUV for $32,000 (fair market value is $48,000) .No other employees are permitted a discount.What is Alvin's basis in the SUV?

• A)$16,000.
• B)$32,000.
• C)$48,000.
• D)$80,000.

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Definitions:

Anticompetitive Behavior

Practices by businesses aimed at undermining competition, such as price fixing, monopolies, and predatory pricing.

Section 5

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FTC Act

The Federal Trade Commission Act is legislation aimed at preventing unfair competition, deceptive practices, and regulating antitrust behavior.

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