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:

Information Concealment

The deliberate act of hiding or omitting information that may be significant or relevant to a particular context or decision.

Cohesive

Characterized by unity and forming a whole, often used to describe groups that work well together.

Task Conflict

Disagreements among individuals or groups regarding the distribution of tasks, methods, and processes in organizational settings.

Process Conflict

Process Conflict arises over how something should be done, involving disagreements on methodologies, procedures, or administrative policies.