Prithi Acquired and Placed in Service $190,000 of Equipment on August

question 67

Multiple Choice

Prithi acquired and placed in service $190,000 of equipment on August 1,2014 for use in her sole proprietorship.The equipment is 5-year recovery property.No other acquisitions are made during the year.Prithi elects to expense the maximum amount under Sec.179.Prithi's total deductions for the year (including Sec.179 and depreciation) are

• A)$38,000.
• B)$25,000.
• C)$63,000.
• D)$58,000.

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Definitions:

Operational Controls

Systems and procedures put in place to regulate the day-to-day activities and processes of an organization to ensure efficiency and effectiveness.

Strategic Planning

Involves the process of defining an organization’s direction, making decisions on allocating resources, and formulating plans to achieve long-term goals.

Shared Common Values

Shared common values are fundamental beliefs or principles that are accepted and held in common by a group, leading to a unified organizational culture.

Organizational Culture

The shared values, beliefs, norms, and practices that shape the social and psychological environment of a business or organization.