Which of the Following Statements Is Correct

question 62

Multiple Choice

Which of the following statements is correct?

• A)Realized gains on the sale of personal use assets are taxable.
• B)Realized losses on the sale of personal use assets are disallowed.
• C)If a personal use asset is sold at a realized gain and another personal use asset is sold at a realized loss,the gain is taxable and the loss is disallowed.
• D)Only a.and b.are correct
• E)a. ,b. ,and c.are correct.

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Definitions:

Nitrate

A polyatomic ion with a chemical formula of NO3-; commonly found in fertilizers and explosive materials.

Physical Properties

Physical properties are attributes of a substance that can be observed or measured without changing its chemical composition, such as density, boiling point, and melting point.

Ionic Compounds

Chemical compounds composed of ions held together by electrostatic forces termed ionic bonding; typically formed between metal and non-metal elements.

Ionic Compound

A chemical compound composed of ions held together by electrostatic forces termed ionic bonding, typically formed between metal and non-metal ions.