In April 2014,Emma Acquired a Machine for $60,000 for Use

question 2

Multiple Choice

In April 2014,Emma acquired a machine for $60,000 for use in her business.The machine is classified as 7-year property.Emma does not expense the asset under Sec.179. Emma's depreciation on the machine this year is

• A)$30,000.
• B)$60,000.
• C)$6,428.
• D)$8,574.

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Definitions:

National Industrial Recovery Act

1933 law passed on the last of the Hundred Days; it created public-works jobs through the Federal Emergency Relief Administration and established a system of self-regulation for industry through the National Recovery Administration, which was ruled unconstitutional in 1935.

Business Codes

A set of guidelines and ethics that govern the operations of businesses to ensure fairness, transparency, and responsibility.

"Unfair" Competition

Business practices deemed unethical or illegal that give one company an unfair advantage over competitors.