Aaron Has a Successful Business with $50,000 of Income in 2018.He

question 81

Multiple Choice

Aaron has a successful business with $50,000 of income in 2018.He purchased a new 7-year MACRS property with a cost of $7,000.For tax purposes, what is the largest write-off Aaron can obtain in 2018 for the new asset?

• A)$500
• B)$1,000
• C)$3,500
• D)$7,000

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Definitions:

Ratios

A quantitative relationship between two numbers showing how many times one value contains or is contained within the other, often expressed as "a to b" or a:b.

Polling Booth

A private area in a polling station where voters go to mark their ballots during an election, ensuring the confidentiality of their vote.

Ratio

A mathematical expression that compares two numbers or quantities, showing the relative size or amount of one to the other.

Absolute Frequency

The total count of occurrences or instances of a specific event or characteristic in a data set.