If a Stock Was Purchased in January 2009 for $1,000

question 46

Multiple Choice

If a stock was purchased in January 2009 for $1,000 and sold in December 2010 for $3,000,a ________ of $2,000 results.

• A)long-term capital gain
• B)short-term capital gain
• C)long-term capital loss
• D)short-term capital loss

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Definitions:

Vertically

In a direction or alignment that goes straight up from a given point, perpendicular to the horizon.

Technological Innovations

Developments and advancements in technology that introduce new methods, ideas, or products.

Skyscraper

A very tall building of many stories, typically found in urban centers.

Immigrants

People who move from one country to another with the intention of settling permanently in the new country, contributing to its demographic, cultural, and economic aspects.