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:

Utility Function

A mathematical representation that ranks preferences or satisfaction levels consumers derive from consuming goods and services.

Nuts

Edible seeds enclosed in a hard shell, often characterized by their high fat and protein content.

Berries

Small, pulpy, and often edible fruits, typically juicy, rounded, brightly colored, and seed-containing.

Utility Function

A formula or mapping that indicates the level of happiness or preference an individual assigns to various bundles of goods or services, used in decision-making analysis.