To Calculate a Gain or Loss on the Sale of an Asset

question 19

Multiple Choice

To calculate a gain or loss on the sale of an asset, the proceeds from the sale are reduced by which of the following?

• A) Tax basis of the property.
• B) Selling expenses.
• C) Amount realized.
• D) Tax basis of the property and selling expenses.
• E) All of the choices are correct.

---

Definitions:

Coitus Interruptus

A method of contraception where intercourse is interrupted by withdrawal of the penis before ejaculation.

Withdraw

The action of removing or taking something back, or to cease participation or membership in an activity or organization.

Ejaculation

The discharge of semen from the male reproductive tract as a result of an orgasm.

Rhythm

A strong, regular repeated pattern of movement or sound, often related to music, speech, or the beating of the heart.