Jeannie Purchased 1,000 Shares in Course Developers for $10,000 on August

question 2

Multiple Choice

Jeannie purchased 1,000 shares in Course Developers for $10,000 on August 11,2016.The company went bankrupt on May 11,2017 with no hope of recovery for the shareholders.On what date is the stock deemed to be worthless and what is the nature of the loss?

• A)December 31,2016 short-term loss in 2016.
• B)December 31,2017,short-term loss in 2017.
• C)December 31,2017,long-term loss in 2017.
• D)May 11,2017,short-term loss in 2017.

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Definitions:

Nervous System

The network of nerve cells and fibers that transmits signals between different parts of the body, facilitating bodily functions and responses to the environment.

Neuritis

Inflammation of a nerve or nerves, often causing pain and loss of function.

Inflammation

A biological response to harmful stimuli, characterized by redness, heat, swelling, and pain as part of the body's effort to heal itself.

Nerve Tract

A bundle of nerve fibers (axons) within the central nervous system connecting one area to another, to transmit signals.