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

question 90

Multiple Choice

Jeannie purchased 1,000 shares in Course Developers for $10,000 on August 11,2013.The company went bankrupt on May 11,2014 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 31,2013 short-term loss in 2013.
• B) December 31,2014,short-term loss in 2014.
• C) December 31,2014,long-term loss in 2014.
• D) May 11,2014,short-term loss in 2014.

Identify the relationship between income changes and the demand for goods.

Understand the impact of price changes on total revenue.

Distinguish between inferior goods, normal goods, and luxury goods based on income elasticity.

Analyze the effects of elasticity on business and economic decisions.

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Definitions:

Ether

A class of organic compounds characterized by an oxygen atom connected to two alkyl or aryl groups, used as solvents and in chemical synthesis.

Tertiary Amine

An amine where the nitrogen atom is connected to three alkyl or aryl groups.

Ethanol

Ethanol, also known as ethyl alcohol, is a volatile, flammable, colorless liquid commonly used as a psychoactive drug in alcoholic beverages and as a solvent in the chemical industry.

Metabolic Oxidation

The process in which organic substances are broken down to produce energy in cells.