S Purchased a Used Automobile to Be Used in His

question 40

Multiple Choice

S purchased a used automobile to be used in his sole proprietorship.For the year, S's business mileage was 20,000 miles, while his personal mileage was 30,000 miles.S may

• A)Claim no depreciation because the car was used predominantly for personal purposes
• B)Elect limited expensing under § 179
• C)Deduct a maximum of $3,160 (2012) of depreciation
• D)Claim depreciation using the straight-line method
• E)More than one of the above statements are true

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Definitions:

Ileocecal Sphincter

A muscular valve that controls the flow of digested food from the small intestine to the large intestine.

Ileum

The final and longest segment of the small intestine, where the absorption of vitamins, electrolytes, and other nutrients is completed.

Cecum

The first part of the large intestine, connected to the ileum and ascending colon, playing a role in the digestive process.

Pyloric Sphincter

A muscular valve regulating the flow of partially digested food from the stomach to the small intestine.