Joseph has several types of capital property, including an interest in a general partnership, shares in a private corporation, a rental property and some mutual funds, and he is getting confused about how to determine their ACB. Which of the following statements is FALSE?

His ACB for the shares that he purchased in the private corporation is the price he paid for the shares, plus any commissions that he paid on the purchase.

If he elected a notional disposition of his cottage in $1994$ and made use of a lifetime capital gains exemption prior to its expiry, he would have increased his ACB $.$

When he sold the rental property, the commissions he paid to the real estate agent were added to his ACB $.$

When the partnership realized a loss, his share of the loss reduced his ACB.