Which of the Tax Concept(s) Allow for the Deferral of Gains

question 97

Multiple Choice

Which of the tax concept(s) allow for the deferral of gains on nonrecognition transactions?
I.Capital Recovery Concept.
II.Ability to Pay Concept.
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• A)Only statement I is correct.
• B)Only statement II is correct.
• C)Both statements are correct.
• D)Neither statement is correct.

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