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Indicate whether the statement is true or false


False

Business

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During the current year, George recognizes a $30,000 Sec. 1231 gain on sale of land and a $18,000 Sec. 1231 loss on the sale of land. Prior to this, George's only Sec. 1231 item was a $14,000 loss six years ago. George must report a

A. $14,000 ordinary income. B. $12,000 net LTCG. C. $10,000 ordinary income and $2,000 net LTCG. D. $12,000 ordinary income.

Business

The computers that constitute the World Wide Web use a standard set of rules known as ________ for the exchange of information.

A. POP B. POP3 C. HTTP D. IMAP

Business

The perfect tender rule under the UCC obligates the seller to tender goods that exactly meet the requirements of the contract

Indicate whether the statement is true or false

Business

Lebron accuses Moe, an attorney, of committing malpractice. Malpractice is

A. a breach of ethics. B. a defalcation. C. a mistake in judgment. D. professional negligence.

Business