Author Question: A loss on the sale of an asset that is depreciable and used in business is ________; a loss on the ... (Read 117 times)

Hungry! · **on:** Jul 11, 2018

A loss on the sale of an asset that is depreciable and used in business is ________; a loss on the sale of a non-depreciable asset is ________.

A) deductible from capital gains income; deductible from ordinary income
B) deductible from ordinary income; deductible only against capital gains
C) a credit against the tax liability; not deductible
D) not deductible; deductible only against capital gains

Question 2

For a risk-seeking manager, no change in return would be required for an increase in risk.

Indicate whether the statement is true or false