Sol Purchased Land as an Investment on January 12, 2015

question 60

Multiple Choice

Sol purchased land as an investment on January 12, 2015 for $85,000.On January 31, 2018 Sol sold the land for $90,000 cash.What is the nature of the gain or loss?​

• A)Long-term capital loss
• B)Long-term capital gain
• C)Short-term capital gain
• D)Short-term capital loss
• E)None of the above

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Definitions:

Executive Processes

Higher-order cognitive processes involved in the planning, initiation, sequence, and monitoring of complex goal-directed behavior.

Short-Term Memory

A capacity for holding a small amount of information in mind in an active, readily available state for a short period of time.

Working Memory

Working memory is a cognitive system responsible for temporarily holding information available for processing, important for reasoning and the guidance of decision-making and behavior.

Short-Term Memory

The part of the memory system where information is stored for a short duration, typically seconds to minutes.