Which of the Following Information About Us Should Be Kept

question 39

Multiple Choice

Which of the following information about us should be kept private?

• A) Family information
• B) Employment information
• C) Student information
• D) Both a and b
• E) a, b, and c

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Definitions:

FMV

The estimated sales price of an asset in the marketplace where both buyer and seller are informed and willing.

Code Sections 1245

Refers to a section of the U.S. Internal Revenue Code that deals with the recapture of depreciation upon the sale of certain types of business property.

Recapture Provisions

Regulations that allow the government to collect taxes on previously deducted or credited investment income when certain assets are sold or disposed of.

Real Property

Land and anything permanently attached to the land, like buildings, is considered real property.