Matthew had a $4,000 gain from the sale of his car. He
A)
need not report the gain since it arose from the sale of a personal asset.
B)
must report the gain as a capital gain.
C)
must report only half the gain since capital gains enjoy favorable tax treatment.
D)
can defer paying taxes on the gain by buying another customized car of equal or greater value.
B
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Which international business strategy involves cooperation between firms and may not involve sharing of ownership?
A) Exporting B) Importing C) Direct investment D) Joint venture E) Strategic alliance
If there is no written agreement as to the way income will be divided among partners
A) they will share income and losses equally B) they will share income and losses according to their capital balances C) they will share income and losses according to the time devoted to the business. D) there really is no partnership agreement
Common stock has two values: the _______ value and the _______ value.
a. prospective, real b. zero, numbered c. book, valued d. market, book e. market, journal
A building-block approach to financial planning refers to
A) pursuing conservative investments and activities first. B) linking all investments and activities into one plan. C) a guide for achieving maximum wealth with limited resources. D) phases of the financial life cycle.