Anita sold for $60,000 her home that she purchased ten years ago for $20,000. She then purchased another home a month later for $70,000. Her capital gain on the sale of the first home was
A)
$60,000
B)
$40,000.
C)
$30,000.
D)
$0.
B
You might also like to view...
The cost of a nonmonetary asset acquired in exchange for another nonmonetary asset is the fair value of the new asset acquired
Indicate whether the statement is true or false
Which of the following is not a reason that large IT projects require economic justification?
A. IT investments require large amounts of capital B. Capital resources are limited C. IT is a commodity, every firm makes IT investments D. Major IT projects can affect substantial portions of the organization
On the income statement, miscellaneous expenses are usually presented as the last item without regard to the dollar amount
Indicate whether the statement is true or false
__________risks occur when consumers feel that making the wrong decision might cause some concern or anxiety
Fill in the blanks with correct word.