Where a Single Homeowner Dies in 2014 and Bequests Their

question 24

Multiple Choice

Where a single homeowner dies in 2014 and bequests their family home which was originally purchased in 2001 to a beneficiary:

• A) the home will be subject to a potential capital gains tax liability if sold by the beneficiary within 1 year following the death of the homeowner using the original purchase price as the cost base.
• B) the home will be exempted from a potential capital gains tax liability if sold by the beneficiary within 2 years following the death of the homeowner.
• C) the home will be valued at its market value at the date of death of the homeowner and subject to sale on any subsequent disposal by the beneficiary.
• D) none of the above.

Comprehend the foundation of ethical theories and the desire for ethical living.

Recognize the nature of corporate social responsibility and legal personhood in corporations.

Differentiate between descriptive theories, market value ethics, and their applications in societal values.

Understand the Responsibility to Protect (R2P) doctrine and its implications for national and international ethics.

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Definitions:

Lucas V. South Carolina Coastal Council

A landmark 1992 United States Supreme Court case dealing with the Fifth Amendment, which found that regulations that deprive a property of all economically viable use constitute a taking requiring just compensation.

Utility Poles

Structures used by public utilities to support wires and equipment necessary for the delivery of electricity, telephone service, and similar utilities.

Free Wifi Network

A wireless network that provides internet access to the public at no cost, often found in public spaces, businesses, or municipalities.

Environmental Justice

The fair treatment and meaningful involvement of all people regardless of race, color, national origin, or income with respect to the development, implementation, and enforcement of environmental laws, regulations, and policies.