NLT Inc Purchased Only One Item of Tangible Personalty in 2018

question 22

True/False

NLT Inc. purchased only one item of tangible personalty in 2018. The cost of the item was $24,000. NLT's taxable income before any Section 179 deduction was $7,100. NLT can elect Section 179 for only $7,100 of the cost of the property.  

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Definitions:

Gratitude

Recognizing and concentrating on the good things in one’s life and being thankful for them.

Administers Rewards

The act of providing benefits or recognitions to individuals as a form of reinforcement or an incentive for desired behaviors.

Fairness

The quality of making judgments that are free from discrimination or bias, and uphold the principles of equity and justice.

Consistently

The quality of acting or performing in a similar manner over time, maintaining uniformity and reliability.