Two Months Ago, Dawes Inc

question 81

Multiple Choice

Two months ago, Dawes Inc. broke a multi-year lease on office space that it had occupied for four years. Three years ago, Dawes paid $85,300 to install carpeting and new electrical fixtures throughout the office. Accumulated depreciation through the date that Dawes vacated the office was $51,000. What is the tax consequence of Dawes' abandonment of the carpeting and fixtures?

• A) Dawes has no tax consequence because it did not sell or exchange these assets.
• B) $34,300 capital loss.
• C) $34,300 ordinary loss.
• D) $34,300 Section 1231 loss.

Predict the geometry of molecules and ions using the VSEPR theory.

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Definitions:

Marginal Revenue

The additional income gained from selling one more unit of a good or service.

Purely Competitive

An alternative term for pure competition, describing a market structure with a high degree of competition, including many sellers offering identical products and free market entry and exit.

Minimum AVC

The lowest point on the average variable cost curve, indicating the most efficient scale of production with respect to variable costs.

Total Fixed Costs

The sum of all costs required to produce any level of output that remains unchanged, regardless of the level of production or sales.