Acorporation owns many acres of timber, which it acquired three years ago, and which has a $120,000 basis. the timber was cut last year for use in the corporation's business. the fmv of the timber on the first day of last year was $270,000. the corporation made the appropriate election to treat the cutting as a sale or exchange. the timber is sold for $300,000 this year. the tax result this year is:

a) recognition of capital gain of $30,000.
b) recognition of sec. 1231 gain of $30,000.
c) recognition of ordinary income of $30,000.
d) no income recognized since all recognition occurs in the year of the cutting of the timber.

The last time he flew jet value air, juan's plane developed a fuel leak and had to make an 4) emergency landing. the time before that, his plane was grounded because of an electrical problem. juan is sure his current trip will be fraught with problems and he will once again be delayed. this is an example of the bias a) confirmation b) availability c) selective perception d) randomness

Jaynet spends $50,000 per year on painting supplies and storage space. she recently received two job offers from a famous marketing firm – one offer was for $95,000 per year, and the other was for $120,000. however, she turned both jobs down to continue a painting career. if jaynet sells 35 paintings per year at a price of $6,000 each: a. what are her accounting profits? b. what are her economic profits?

Now ray has had the tires for two months and he notices that the tread has started to pull away from the tire. he has already contacted the place who sold the tires and calmly and accurately explained the problem. they didn’t him because they no longer carry that tire. so he talked with the manager and he still did not get the tire replaced. his consumer rights are being violated. pretend you are ray and write a letter to the company’s headquarters. here are some points to keep in mind when writing the letter: include your name, address, and account number, if appropriate. describe your purchase (name of product, serial numbers, date and location of purchase). state the problem and give the history of how you tried to resolve the problem. ask for a specific action. include how you can be reached.