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A Used $35,000 Automobile That Is Used 100% for Business

question 3

True/False

A used $35,000 automobile that is used 100% for business is placed in service in 2018. If the automobile fails the 50% business usage test in the second year, no cost recovery will be recaptured.


Definitions:

Wage Increase

An upward adjustment in employees' salaries or wages, often due to economic conditions, labor market pressures, or performance.

Union Members

Individuals who belong to a labor union, which is an organization that represents workers' interests in negotiations with employers.

Workers

Individuals engaged in a particular activity or employment, either for wages or as part of a specified task.

Demotion

The action of reducing someone's rank, status, or position, often as a disciplinary measure or organizational restructuring.

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