Nicholas Owned Stock That Decreased in Value by $20,000 During

question 15

True/False

Nicholas owned stock that decreased in value by $20,000 during the year, but he did not sell the stock.He earned $45,000 salary, but received only $34,000 because $11,000 in taxes were withheld.Nicholas saved $10,000 of his salary and used the remainder for personal living expenses.Nicholas's economic income for the year exceeded his gross income for tax purposes.

---

Definitions:

Trade

The action of buying, selling, or exchanging goods and services between people, firms, or countries.

Exchange Rate

The monetary worth assigned to one currency when converting it to another currency.

United States

A country located in North America, consisting of 50 states and a federal district, known for its diverse geography and economy.

Portugal

A country located in Southern Europe on the Iberian Peninsula, known for its long history, cultural heritage, and maritime explorations.