During 2012, Trevor Has the Following Capital Transactions: After

question 4

Multiple Choice

During 2012, Trevor has the following capital transactions: After the netting process, the following results:

• A)Long-term collectible gain of $2,000.
• B)LTCG of $6,000, Long-term collectible gain of $2,000, and a STCL of $6,000.
• C)LTCG of $6,000, Long-term collectible gain of $2,000, and a STCL carryover to 2013 of $3,000.
• D)LTCG of $2,000.
• E)None of the above.

---

Definitions:

Sale of Goods Act

refers to a statutory framework that regulates the sale and purchase of goods, setting out the rights and duties of both buyers and sellers.

Traded Goods

Goods that are bought and sold in domestic or international markets. These can range from raw materials to finished products.

Consumer Protection Legislation

Laws and regulations designed to ensure the rights of consumers are protected, as well as to provide consumers with the means for redress in situations where their rights have been violated by businesses or manufacturers.

False Advertising

Misleading or deceptive marketing that misrepresents the nature, characteristics, benefits, or qualities of a product or service.