Delour Inc

question 52

Multiple Choice

Delour Inc. was incorporated in 2004 and adopted a calendar year. Here is a schedule of Delour's net Section 1231 gains and (losses) reported on its tax returns through 2009. In 2010, Delour recognized a $50,000 gain on the sale of business land. How is this gain characterized on Delour's tax return?

• A) $50,000 Section 1231 gain
• B) $12,000 ordinary gain and $38,000 Section 1231 gain
• C) $16,900 ordinary gain and $33,100 Section 1231 gain
• D) $50,000 ordinary gain

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Definitions:

Loyalty

A strong feeling of support or allegiance to someone or something, often manifesting as dedication or faithfulness.

Sportsmanship

The practice of playing fair, following the rules of the game, and showing respect for opponents, teammates, and officials.

Cross-Cultural Teams

Teams made up of members from different cultural backgrounds working together towards a common goal.

Virtual Teams

Groups that interact primarily through electronic means, with little, if any, in-person contact.