Joan purchases a beautiful rug for $25,000. After several years of wear and tear, Joan has the rug appraised and finds that it is now worth only $20,000. Based on this information:
A) Joan's saving this year has increased by $5,000.
B) Joan has a $5,000 capital gain.
C) Joan has a $5,000 capital loss.
D) Joan's wealth is unchanged.
Correct Answer:
Verified
Q32: A flow is a measure defined:
A)per unit
Q33: A stock is a measure defined:
A)per unit
Q34: Jordan has the following assets and
Q35: If Gerry saves $500 per month, then
Q36: Which of the following is a flow?
A)Saving
B)Wealth
C)Assets
D)Money
Q38: The Cub Scouts have so far sold
Q39: Which of the following is a stock?
A)Saving
B)Income
C)Consumption
D)Wealth
Q40: The Cub Scouts have so far sold
Q41: Precautionary saving is saving:
A)to meet long-term objectives,
Q42: Which of the following is an example
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