Morgan Has the Following Capital Gains and Losses for the Current

question 27

Multiple Choice

Morgan has the following capital gains and losses for the current tax year
$\begin{array}{lr}\text { Short-term capital gains } & \$ 12,000 \\\text { Long-term capital gains } & 3,000 \\\text { Short-term capital losses } & (7,000) \\\text { Long-term capital losses } & (6,000) \end{array}$
What is Morgan's net capital gain or loss position for the year?

• A)$5,000 net short-term capital gain.
• B)$2,000 net long-term capital loss.
• C)$2,000 net short-term capital gain.
• D)$3,000 net long-term capital loss.
• E)$4,000 net short-term capital loss.

Understand and apply the concepts of spending and revenue variances.

Learn to analyze and interpret the implications of budget variances for managerial decision-making.

Appreciate the significance of budgeting in managing operational efficiency.

Understand the role of budget variance analysis in planning and control.

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Definitions:

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