Ashburn reported a $105,000 net §1231 gain in year 6. assuming ashburn reported $60,000 of nonrecaptured §1231 losses during years 1-5, what amount of ashburn's net §1231 gain for year 6, if any, is treated as ordinary income?
a. $0.
b. $45,000.
c. $60,000.
d. $105,000.
e. none of the choices are correct.

Which of the following accurately describes a situation in which consumers have elastic demand? a. a restaurant starts using margarine instead of butter because butter becomes more expensive. b. consumers boycott a restaurant because the waiters aren't paid minimum wage. c. a company starts using sugar instead of corn syrup because its revenues are up. d. people give up eating pasta and bread because they want to lose weight. 2b2t

What does the phrase limited liability mean in a corporate context?

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