Before 2000,the Three Most Recent Canadian Recessions Occurred in

question 34

Multiple Choice

Before 2000,the three most recent Canadian recessions occurred in

• A) 1969-1973, 1979-1982, and 1994-1995.
• B) 1973-1975, 1982-1985, and 1990-1991.
• C) 1974-1975, 1981-1982, and 1990-1992.
• D) 1981-1982, 1990-1991, and 1998-1999.
• E) 1944-1945, 1955-1956, and 1990-1992.

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Definitions:

Recognize

In an accounting context, to recognize is to formally record an item within the financial statements of an entity, acknowledging its existence or occurrence.

Short-term Capital Loss

A loss realized from the sale or exchange of a capital asset held for one year or less, which can be used to offset capital gains for tax purposes.

Long-term Capital Gain

A profit from the sale of an asset held for more than a year, typically taxed at a lower rate than regular income.

Section 1245

A section of the U.S. Internal Revenue Code that defines the tax treatment of the gain from the sale of depreciable property.