Pat Purchased a Used Five-Year Class Asset on March 15,2011,for

question 50

Multiple Choice

Pat purchased a used five-year class asset on March 15,2011,for $60,000.He did not elect § 179 expensing.Determine the cost recovery deduction for 2011 for earnings and profits purposes.

• A) $2,000.
• B) $3,000.
• C) $6,000.
• D) $12,000.
• E) None of the above.

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Definitions:

Purchase Satisfaction

Gratification based on a product that supplies expected, or greater than expected, benefits.

Endless Chain Referral

A method in sales where a customer is asked to provide the names of other potential customers, creating a "chain" of referrals that can potentially lead to endless opportunities.

Prospecting

The process of searching for potential customers or clients to generate new business opportunities.

New Prospects

Potential customers who have been identified as having a probable interest in a product or service but have not yet made a purchase.