Which of the Following Statements Related to the Section 179

question 36

Multiple Choice

Which of the following statements related to the Section 179 election to expense is (are) true?
I.A Section 179 deduction can be claimed on tangible personal property
II.A Section 179 deduction can be claimed on property held for the production of income.
III.A Section 179 deduction can be claimed on real property.
IV.A Section 179 deduction is allowed only for assets used in trade or business.
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• A)Only statement I is true.
• B)Only statements I and II are true.
• C)Only statements I, II, and III are true.
• D)Only statements I and IV are true.
• E)All of the statements are true.

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Definitions:

Lung Efficiency

Refers to the effectiveness with which the lungs exchange oxygen and carbon dioxide with the blood.

Smokers

Individuals who inhale smoke from substances, often tobacco, through cigarettes, pipes, or other devices.

Chronic Traumatic Encephalopathy

A progressive degenerative disease of the brain found in individuals with a history of repetitive brain trauma, often athletes and military veterans.

Symptoms

The signs and manifestations of a disease or condition experienced by an individual.