Junko Is 14 Years Old and Is Reading a Book

question 8

Multiple Choice

Junko is 14 years old and is reading a book of essays on politics in various countries.Junko enjoys reading about different political views and comparing them.With the help of his newly acquired knowledge,Junko is evaluating the validity of his own political beliefs.Junko is demonstrating

• A)mental imaging.
• B)critical thinking.
• C)referenced thinking.
• D)memory schematization.

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Definitions:

Section 1245

A section of the U.S. Internal Revenue Code that deals with the tax treatment of depreciable property and requires the recapture of depreciation upon sale of the property as ordinary income.

Section 1231

A tax provision related to the treatment of gains and losses on property used in a trade or business or held for the production of income.

Depreciation

A method of allocating the cost of a tangible asset over its useful life.

Short-Term Capital Loss

A loss realized from the sale of a capital asset, such as stock, held for one year or less, which can be used to offset capital gains for tax purposes.