In 1980,Mr

question 57

Multiple Choice

In 1980,Mr.Lyle purchased a factory building to use in business for $480,000.When Mr.Lyle sells the building for $580,000,he has taken depreciation of $470,000.Straight-line depreciation would have been $400,000.Mr.Lyle must report

• A)$570,000 of ordinary gain.
• B)$570,000 of Sec.1231 gain.
• C)$70,000 of ordinary income and $500,000 of Sec.1231 gain.
• D)$470,000 of ordinary gain and $100,000 of Sec.1231 gain.

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Definitions:

Opinion Leaders

Individuals who have significant influence over the attitudes and behaviors of others due to their authority, knowledge, or position.

Anomies

A state of normlessness or social instability caused by the breakdown of standards and values or a lack of purpose and ideals in society.

Power Users

Individuals who have a profound understanding and mastery of a particular software, system, or technology, often beyond that of an average user.

Knowledge Power

The influence and control gained through the possession or access to information and expertise.