Victor Doesn't Have the Time to Go Exercising During the Week

question 17

Multiple Choice

Victor doesn't have the time to go exercising during the week and doesn't have enough money to join a gym. He wants to lose weight and hasn't exercised in years. Which of the following activities should he partake in?

• A) Start running 8 miles a day.
• B) Take the stairs at work instead of the elevator.
• C) Go on a fad diet.
• D) Cut out protein in his diet.

---

Definitions:

Ordinary Income

Income earned through wages, salaries, commissions, and interest, subject to standard tax rates.

Preferential Treatment

Practices or policies that give favorable tax treatment to certain transactions, investments, or income, often to encourage specific economic activities.

Holding Period

The duration of time an investment is owned or held by an investor, which can affect the tax implications of the investment's gains or losses.

Gift Tax

A federal tax on the transfer of property by gift during the donor's lifetime, intended to prevent tax avoidance through the transfer of wealth.