Hans Purchased a New Passenger Automobile on August 17, 2012

question 50

Multiple Choice

Hans purchased a new passenger automobile on August 17, 2012, for $30,000.During the year the car was used 40% for business and 60% for personal use.Determine his cost recovery deduction for the car for 2012.

• A)$500.
• B)$1,000.
• C)$1,224.
• D)$1,500.
• E)None of the above.

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Definitions:

Pine

A type of evergreen tree with needle-like leaves, known for its wood and resin.

Uniform Commercial Code

A comprehensive set of laws governing all commercial transactions in the United States, intended to harmonize the law in sales and other commercial transactions across states.

Assignment

The conveyance of entitlements, properties, or liabilities from one party to a different one.

Delegation

The act of assigning responsibility or authority from one person to another.