Byron Loaned $5,000 to His Friend Alan in 2011

question 117

Multiple Choice

Byron loaned $5,000 to his friend Alan in 2011.They drew up a formal loan agreement that called for a reasonable rate of interest.Alan used the loan proceeds to pay expenses during his last year in college.Byron was recently informed that his friend Alan was struck by lightning and died.Byron will never be able to collect the proceeds of this loan because Alan died with no assets.What tax benefit,if any,will Byron will be able to claim in 2016,the year that the loan became worthless.

• A)$5,000 tax credit.
• B)$5,000 ordinary loss.
• C)$5,000 short-term capital loss.
• D)This is a personal non-deductible loss.

Understand the demographics and distribution of the slave population in the United States prior to the Civil War.

Analyze the economic impact and legal changes related to the slave trade and slavery in the United States, including the domestic slave trade and the prohibition of the Atlantic slave trade.

Identify and understand the roles and functioning of systems put in place to control the slave population, including slave patrols and slave codes.

Describe the impact of key events on the institution of slavery and slave population dynamics, including the Panic of 1837 and legislation affecting slave markets.

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Definitions:

Reversal Effect

A phenomenon in finance where the performance of stocks or markets reverses direction after a period of significant movement.

Market Trading Data

Information and statistics related to the trading activity in financial markets, including volume, price, and movements of securities.

EMH

Efficient Market Hypothesis, a theory that suggests that financial markets are fully efficient in reflecting information in asset prices.

Charting

The practice of using graphs and charts to analyze historical data and patterns to forecast the future movement of securities.