Pat Purchased a Used Five-Year Class Asset on March 15,2016,for

question 18

Multiple Choice

Pat purchased a used five-year class asset on March 15,2016,for $60,000.He did not elect § 179 expensing.Determine the cost recovery deduction for 2016 for earnings and profits purposes.

• A)$2,000
• B)$3,000
• C)$6,000
• D)$12,000
• E)None of the above

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Definitions:

Preapproach Stage

The phase in the sales process where research and planning are conducted before making initial contact with a potential customer.

International Sales

International sales involve the selling of goods and services across national borders, requiring knowledge of various markets, cultures, and regulations.

Cold Canvassing

A sales technique where individuals or businesses are approached without prior contact or relationship, often used to solicit new customers or gather information.

Personal Selling Process

describes the sequence of steps salespeople follow to persuade potential customers to purchase a product or service.