53. On June 1 of the current year, Tab converted a machine from personal use to rental property. At the time of the conversion, the machine was worth $90,000. Five years ago Tab purchased the machine for $120,000. The machine is still encumbered by a $50,000 mortgage. What is the basis of the machine for cost recovery?

b. $90,000 More test answers on https://studyhippo.com/income-tax-chp-8/

On June 1 of the current year, Rodney converted his personal residence into a rental property. At the time of the conversion, the house was worth $210,000. Five years ago Rodney purchased the building for $320,000. The building is still encumbered by a $100,000 mortgage. What is the basis of the building for cost recovery? a. $110,000. b. $210,000. c. $220,000. d. $320,000. e. None of the above.

b. $210,000 The basis is $210,000, the lower of the adjusted basis ($320,000) or fair market value ($210,000) at the date of conversion. More test answers on https://studyhippo.com/individual-income-tax-chap-8/

Makayla developed an intense fear of flying five years ago when she was in a plane crash. The fact that today she can again fly without distress indicates that her fear has undergone:

extinction More test answers on https://studyhippo.com/psych-unit-6-review-ques/

Makayla developed an intense fear of flying five years ago when she was in a plane crash. Today she can again fly without distress. This indicates that her fear has undergone a) spontaneous recovery. b) extinction. c) generalization. d) positive reinforcement.

b) extinction. More test answers on https://studyhippo.com/intro-to-psychology-chapter6/

Tracy invested $1,000 five years ago and earns 4 percent interest on her investment. By leaving her interest earnings in her account, she increases the amount of interest she earns each year. The way she is handling her interest income is referred to as which one of the following?

compounding More test answers on https://studyhippo.com/fin-ch5/

Five years ago, my company’s market share was at 5%. Today it is at 10%. In carrying out my strategic planning for next five years, I will forecast my market share at the end of that period will be 15%. This common form of predicting the future is called

trend extrapolation (Ch 4) More test answers on https://studyhippo.com/test-1-strategic-management-test-bank/

Compared to thirty-five years ago, the number of people living in poverty has

Increased More test answers on https://studyhippo.com/sociology-1010-139734/

Today’s college students are emailing ______, compared to five years ago.

less More test answers on https://studyhippo.com/health-class-ch5/

Alligator Enterprises has earned above-average returns since its founding five years ago. Since no other firm has challenged Alligator in its particular market niche, the firm’s owners can feel secure that Alligator has established a competitive advantage.

False More test answers on https://studyhippo.com/strategic-management-chapter-1/

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