1 A capital gain is calculated as (2 Pts) Book value - selling price book value
ID: 2550315 • Letter: 1
Question
1 A capital gain is calculated as (2 Pts) Book value - selling price book value -initial cost selling price initial cost market value - selling price 2 With a negative amortized loan the following are true: (2 Pts) velve There is a balloon payment due at the end of the loan Payments are less than the interest he loan balance increases over time th b & c All of the above 3. The current portion of debt is. (2 Pts) . The principal for the current month The sum of loan payments due within the next 12 months The sum of principal payments due within the next 12 months The loan payment for the current month . None of the above 14 An increase in assets: (2 Pts) aIncreases income Increases cash . Does not effect cash Reduces cash e. Both a & d 15 Which of the following is not a requirement for an asset to be depreciable? (2 Pts) a It must have a basis (initial purchase price plus installation cost) greater than $1,000 It must have a life longer than 1 year :. It must be held with the intent to produce income d. It must wear out or get used upExplanation / Answer
Answer:
1.Selling price - Initial Cost
2.The loan balance increases over time
3.The sum of principal payments due within next 12 months
4.Reduces cash
5.It must have a life longer than 1 year
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