Q6. Are Weinke’s and Johnson’s statements concerning the gifting of Brooks’ stock to his alma mater correct? Weinke Johnson
A) Correct Correct B) Correct Incorrect C) Incorrect Correct
Q7. A tax lot refers to: A) securities that are identified, usually by purchase date and price, to minimize taxes. B) all shares that are sold on a given date. C) holding securities that have market values below the cost basis.
Q8. An investor purchased 100 shares of VBN at $34 two years ago and another 100 shares at $46 one year ago. Today, the price is $73, and they are going to sell 100 shares. Which of the following statements is correct? They should sell the shares purchased: A) one year ago because this will minimize the capital gains taxes. B) one year ago because this will maximize the capital gain. C) two years ago because this will minimize the capital gains taxes.
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