Short-Range Wireless Technology That Works with Smartphones Is Also Known

question 45

Multiple Choice

Short-range wireless technology that works with smartphones is also known as ____.

• A) RFID
• B) NFC
• C) IoT
• D) None of the above

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Definitions:

Long-Term Capital Gain

The profit from the sale of an asset held for more than a year, generally taxed at a lower rate than short-term gains.

AGI

Adjusted Gross Income, the total income minus specific deductions, serving as a basis for calculating taxable income and certain tax credits.

Section 1231 Gain

A gain from the sale or exchange of property used in a business or trade that is treated as capital gain for tax purposes, providing tax advantages.

Section 1245 Gain

A tax term referring to the gain from the sale or disposal of certain types of depreciable property, where the gain is recaptured as ordinary income.