An Asset (Not an Automobile) Placed in Service in June

question 95

Multiple Choice

An asset (not an automobile) placed in service in June 2019 has a depreciable basis of $35,000 and a recovery period of 5 years. Assuming bonus depreciation is used, a half-year convention, and no expensing election, what is the maximum amount of cost that can be deducted in 2019?

• A)$7,000
• B)$17,500
• C)$21,000
• D)$24,500
• E)$35,000

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Definitions:

Social Cognitive Theorists

Researchers who study how individuals learn and behave in social contexts, focusing on the interplay of mental processes and social interaction.

Observation

The active acquisition of information from a primary source, using senses or instruments, to gather and record data for analysis.

Reinforcement

In behavioral psychology, it is the process of encouraging or establishing a pattern of behavior by offering rewards or positive outcomes.

Assimilation

According to Piaget, the incorporation of new events or knowledge into existing schemes.