Q1. Of the four principal targets of taxation, which is ordinarily least relevant to the investment professional? A) Assets owned. B) Assets transferred. C) Expenditures.
Q2. Which of the following is NOT one of the four principal targets for taxation? A) Income received. B) Expenses recognized. C) Expenditures.
Q3. Estate taxes are an example of a tax on: A) the value of assets owned. B) capital gains on assets transferred. C) a percentage of assets gifted.
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