Which of the Following Propositions Is Not True of Capital

question 34

Multiple Choice

Which of the following propositions is not true of capital gains tax?

• A)It is not payable on the sale of a primary place of residence.
• B)It is not payable on the sale of a motor vehicle.
• C)It is not payable by corporations.
• D)It is payable at the same rate as income tax.

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Definitions:

ADR

Alternative Dispute Resolution, a range of procedures such as mediation and arbitration for resolving disputes without the need for litigation.

Litigation

The process of taking legal action or resolving disputes through the court system.

United Nations Convention

An international agreement formed under the auspices of the United Nations, addressing various global issues through legally binding treaties or protocols.

ADR

stands for Alternative Dispute Resolution, which refers to dispute resolution processes and techniques that act as a means for disagreeing parties to come to an agreement short of litigation.