1.When establishing whether the sale of an asset is capital income or business income, which of the following is one of the factors typically taken into consideration to determine the primary intention of a transaction?

Multiple Choice

Age of the asset

Payment terms of the sale

Number and frequency of transactions

Market value of the asset

2.

Investing in spousal RRSPs

Multiple Choice

allows for income splitting when the contributor turns 71.

allows the annuitant spouse to claim the RRSP deduction and the contributing spouse to be taxed upon withdrawal.

allows for the contributing spouse to claim the RRSP deduction and the annuitant spouse to claim the income.

is not allowed by the general anti-avoidance rules.