In 2010, Which of the Following Countries Formed a Free

question 131

Multiple Choice

In 2010, which of the following countries formed a free trade area with the ten countries that make up the Association of Southeast Asian Nations (ASEAN) ?

• A) Laos
• B) United States
• C) Mexico
• D) China
• E) Japan

---

Definitions:

Preferential Rates

Preferential rates refer to lower tax rates applied to certain types of income, such as qualified dividends and long-term capital gains, compared to ordinary income tax rates.

Capital Loss

The loss incurred when a capital asset, like stocks or real estate, is sold for less than its purchase price.

Taxpayer

A taxpayer is an individual or entity that is obligated to pay taxes to a federal, state, or local government body.

FMV

Fair Market Value, the price that a property or asset would sell for on the open market between a willing buyer and a willing seller.