An Asset (Not an Automobile)put in Service in June 2018

question 58

Multiple Choice

An asset (not an automobile) put in service in June 2018 has a depreciable basis of $35,000 and a recovery period of 5 years and is the only asset placed in service this year.Assuming bonus depreciation is used, a half-year convention, and the expensing election is made, what is the maximum amount of cost that can be deducted in 2018 (assume no income limitation) ?

• A)$7,000
• B)$17,500
• C)$21,000
• D)$24,400
• E)$35,000

Comprehend how continuous learning and development contribute to effective leadership.

Acknowledge the importance of cultural awareness and diversity training in today's globalized work environment.

Understand methods for enhancing employee performance and commitment through effective training interventions.

Grasp the role of job analysis and competency modeling in shaping training needs and objectives.

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Definitions:

Endowment Effect

The tendency people have to place higher valuations on items they possess (are endowed with) than on identical items that they do not possess; perhaps caused by loss aversion.

Time Inconsistency

The tendency of certain conditions or decisions to change over time, especially in the context of economic planning and policy-making.

Prospect Theory

A behavioral economics theory of preferences having three main features: (1) people evaluate options on the basis of whether they generate gains or losses relative to the status quo; (2) gains are subject to diminishing marginal utility, while losses are subject to diminishing marginal disutility; and (3) people are prone to loss aversion.

Behavioral Economists

Economists who study how psychological, social, cognitive, and emotional factors affect economic decisions and market outcomes.