In 2014,Niveen Purchased Land for $88,000 for Use in Her

question 52

Multiple Choice

In 2014,Niveen purchased land for $88,000 for use in her landscape business.She sold it in 2017 for $97,500.If Niveen has no other sales of business or trade property,how will this gain be taxed?

• A)$9,500 short-term capital gain.
• B)$9,500 long-term capital gain.
• C)$9,500 ordinary income.
• D)$9,500 Section 1231 gain.

Analyze the interaction between the judiciary and other branches of government, including checks and balances and the influence of public opinion.

Understand the characteristics and structure of a bureaucracy.

Identify the processes involved in creating and organizing cabinet departments within the federal government.

Recognize the role and functions of bureaucrats within governmental organizations.

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Definitions:

Overdue

Pertaining to a payment, obligation, or duty that has not been fulfilled by its due date.

Due Date

The specified day by which a task needs to be completed or a payment needs to be made.

Instrument

A formal legal document that signifies a monetary value or evidences a transaction involving financial rights or property.

Without Recourse

Refers to an agreement where the seller is not responsible for any issues that arise after the sale is completed, commonly used in bill of exchange and note transactions.