A Loss on the Sale of an Asset That Is

question 115

Multiple Choice

A loss on the sale of an asset that is depreciable and used in business is ________; a loss on the sale of a non-depreciable asset is ________.

• A) deductible from capital gains income; deductible from ordinary income
• B) deductible from ordinary income; deductible only against capital gains
• C) a credit against the tax liability; not deductible
• D) not deductible; deductible only against capital gains

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Definitions:

Absolute Refractory

A period immediately following the transmission of an impulse in nerve or muscle in which a neuron or muscle cell cannot respond to any additional stimulus.

Period

Often refers to a length or span of time in a sequence of events or a specified interval in processes or phenomena.

Neuron

A specialized cell transmitting nerve impulses; a basic building block of the nervous system responsible for processing and transmitting information.

Firing

Firing, in the context of neural activity, refers to the action of neurons when they send an electrical impulse along their axons, a fundamental process for brain communication.