D Purchased an Option to Acquire 3 Acres of Real

question 30

Multiple Choice

D purchased an option to acquire 3 acres of real estate for investment for $15,000 on or before March 15, 20X4.The option cost $2,000.Which of the following is NOT true?

• A)If D allows the option to lapse, she has a long-term capital loss of $2,000 in the year 20X4.
• B)If D exercises the option on March 15, 20X1, the real estate has a basis of $17,000.
• C)If D sells the option for $1,500, she may not deduct the loss.
• D)The option is a capital asset to D since the land would be a capital asset if it were held.

Understand the distinction and significance of material and nonmaterial culture in society.

Grasp the concepts of culture, including its patterns of behavior and ways of thinking.

Recognize the importance of language in culture and its evolution with social change.

Comprehend the dynamics of cultural transmission and diffusion across societies.

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Definitions:

Osteomalacia

A condition characterized by softening of the bones due to vitamin D deficiency or inadequate calcium absorption, leading to increased risk of fractures.

Softening

The process of becoming softer or causing something to become softer.

Bones

The rigid organs that constitute part of the endoskeleton of vertebrates, supporting and protecting various organs of the body.

Osteoarthritis

A type of arthritis that occurs when flexible tissue at the ends of bones wears down, causing pain, swelling, and reduced motion in joints.