Which of the Following Situations Would Not Be Permitted to Defer

question 4

Multiple Choice

Which of the following situations would not be permitted to defer the recognition of any recapture that might arise from the disposition of an asset?

• A)A building that was used for income earning purposes was destroyed in a flood.Insurance proceeds were received which generated recapture.A new building was built 18 months later.
• B)A piece of equipment that belonged to a company was stolen in November 2019.Insurance proceeds were received which generated recapture.The equipment was replaced in December of 2020.
• C)A piece of equipment that belonged to a construction company was sold in June 2019.The proceeds from the sale generated recapture.A new piece of equipment was purchased in January of 2020.The company's fiscal year-end is December 31^st.
• D)A building that was used for income earning purposes was sold in December 2019.The proceeds from the sale generated recapture.A new building was purchased in April 2020.The company's fiscal year-end is December 31^st.

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Definitions:

Authoritarianism

A political system characterized by strong central power and limited political freedoms, often enforced by strict obedience to authority.

Sexual Harassment

Unwelcome sexual advances, requests for sexual favors, and other verbal or physical harassment of a sexual nature.

Men's Formal Power

Refers to the institutionalized power held predominantly by men in major societal structures, including politics, business, and legal systems.

High Status

A position of authority, prestige, or respect within a social hierarchy.