Colleen Operates a Business as a Sole Proprietorship

question 121

Multiple Choice

Colleen operates a business as a sole proprietorship. She purchased a computer for $10,000 last year. The computer is five-year recovery property for MACRS purposes and is depreciated under the regular MACRS rules. This year, Colleen incorporates the business and transfers the computer to the new corporation on July 20. The depreciation on the computer for this year allocable to the sole proprietorship is

• A)$1,868.
• B)$1,600.
• C)$1,333.
• D)$500.

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Definitions:

Internal Representational Systems

The mental mechanisms by which individuals organize, interpret, and store information about the world around them.

Self-Report Inventories

Psychometric tests where individuals provide subjective information about their own feelings, behaviors, and attitudes, often used in psychological studies.

Projective Techniques

Assessment instruments in psychology that employ vague stimuli to provoke reactions, thereby uncovering facets of a person's character.

Adults

Individuals in the stage of life who have reached the age where they are considered to have the full physical, intellectual, and emotional capabilities of a mature person.