Larry Owned and Lived in a Home for Five Years

question 53

Multiple Choice

Larry owned and lived in a home for five years before marrying Darlene.Larry and Darlene lived in the home for one year before selling it at a $600,000 gain.Larry was the sole owner of the residence until it was sold.How much of the gain may Larry and Darlene exclude?

• A)$0.
• B)$250,000.
• C)$500,000.
• D)$600,000.

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Definitions:

Observational Learning

The method of learning that occurs through observing the behavior of others and the outcomes of those behaviors.

Classical Conditioning

An associative learning process where a neutral stimulus comes to elicit a response after being paired with a stimulus that naturally brings about that response.

Vicariously

Experiencing something through the actions or experiences of another person, rather than firsthand.

Reinforcing Outcomes

Consequences that increase the probability of a behavior being repeated by providing a reward or removing a negative stimulus.