Occasionally, Realized Gains Are Not Recognized for Tax Purposes

question 87

Multiple Choice

Occasionally, realized gains are not recognized for tax purposes. These situations occur because
I.certain gains are excluded due to legislative grace.
II.gains are deferred on certain types of property transactions where the wherewithal-to-pay the tax resulting from the transaction is lacking.
​

• A)Only statement I is correct.
• B)Only statement II is correct.
• C)Both statements are correct.
• D)Neither statement is correct.

---

Definitions:

Confidence Interval

A range of values derived from sample data that is likely to contain the true population parameter with a certain level of confidence.

Regular Exercise Program

A consistent routine or schedule of physical activities designed to improve or maintain physical fitness and health.

Margin of Error

An expression of the amount of random sampling error in a survey's results, indicating a confidence interval within which the true population parameter is expected to lie.

Confidence Interval

An amalgamation of values, gathered from sample statistics, projected to house the value of a covert population parameter.