Which of the Following Statements Is NOT Indicative of the Status

question 8

Multiple Choice

Which of the following statements is NOT indicative of the status of South Africa's standing in the world economy?

• A) The country has traditionally dominated the regional economy.
• B) South Africa is the only African member of the G20.
• C) The country's currency, the Rand, is used as an internationally accepted "hard" currency just like the EU's Euro and the American dollar.
• D) South Africa has a fairly high growth in terms of GNP.
• E) The country is part of an informal group of rapidly growing emerging economies known as BRICS.

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Definitions:

Wash Sale Rules

IRS regulations that disallow the claim of a loss on the sale of a security if a substantially identical security is purchased within a 30-day period before or after the sale.

Securities

Financial instruments that represent an ownership position in a publicly-traded corporation (stock), a creditor relationship with a governmental body or a corporation (bond), or rights to ownership as represented by an option.

Like-Kind Exchange

A tax deferral for the exchange of business or investment properties that are of the same nature or character, without cash being involved.

Gain Recognition

The process by which gains from the sale or exchange of assets are reported for tax purposes.