As a Result of the Age Discrimination in Employment Act

question 40

Multiple Choice

As a result of the Age Discrimination in Employment Act (ADEA) and the Americans with Disabilities Act (ADA) , discrimination based on which of the following characteristics is illegal?

• A) Age.
• B) National origin.
• C) Disability.
• D) All of these are legally protected against discrimination.

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Definitions:

Inherited Property

Property one receives from a deceased person's estate, subject to specific tax rules and basis determinations.

Inventory

Goods and materials a business holds for the ultimate goal of resale or production.

Section 1231

This is a section of the U.S. Internal Revenue Code that provides favorable tax treatment for gains and losses on the sale or exchange of certain types of property used in a trade or business.

Capital Losses

Capital losses occur when the sale of a capital asset, such as stocks or real estate, results in a loss, which can offset capital gains for tax purposes.