Josh Donated a Painting to the Local Art Museum

question 20

Multiple Choice

Josh donated a painting to the local art museum.He purchased the painting twenty years ago for $34,000,and its appraised FMV at date of gift was $115,000.Which of the following statements about this donation is true?

• A)Josh must recognize an $81,000 long-term capital gain and is allowed a $115,000 charitable contribution deduction.
• B)Josh recognizes no gain and is allowed a $115,000 charitable contribution deduction.
• C)Josh recognizes no gain and is allowed a $34,000 charitable contribution deduction.
• D)None of the above is true.

Identify the types of marks used in trade, including product trademarks and certification marks.

Understand the essence of intellectual property and the forms it can take.

Gain insights into the principles of international conventions and agreements protecting intellectual properties such as the Berne Convention and The Paris Convention.

Familiarize with the domain naming system and the significance of different domain extensions.

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Definitions:

Solution

A mixture in which all the components are evenly distributed at the molecular level, or a way to solve a problem.

Tid

An abbreviation for "ter in die," a medical term meaning three times a day, usually in the context of prescribing medication.

Bid

An offer made by an individual or entity to buy something.

Prn

An abbreviation for "pro re nata," a Latin phrase meaning "as needed"; often used in prescriptions to indicate that medication should be taken as required.