QUESTION 1\ A father gifts

$10,000

in public company shares to his 19 year old daughter who is living at home. Any dividends declared on the securities will be attributed to the father.\ True\ False\ QUESTION 2\ Johan Deroi owns shares with an ACB of

$1,000

and a FMV of

$1,500

. If he sells the shares to his brother for

$2,000

, he will have a capital gain of

$1,000

. True\ False\ QUESTION 3\ Mr. Schmidt purchased 250 shares of Doss Limited on February 1 of the current year for

$20

per share. On May 1 of the current year, he purchased 100 more shares for

$25

per share. On June 20 of the current year, Mr. Schmidt sells 100 shares for

$15

per share. His allowable capital loss on June 20 is

$643

.\ True\ False

QUESTION 1 A father gifts $10,000 in public company shares to his 19 year old daughter who is living at home. Any dividends declared on the securities will be attributed to the father. O True False QUESTION 2 Johan Deroi owns shares with an ACB of $1,000 and a FMV of $1,500. If he sells the shares to his brother for $2,000, he will have a capital gain of $1,000. O True O False QUESTION 3 Mr. Schmidt purchased 250 shares of Doss Limited on February 1 of the current year for $20 per share. On May 1 of the current year, he purchased 100 more shares for $25 per share. On June 20 of the current year, Mr. Schmidt sells 100 shares for $15 per share. His allowable capital loss on June 20 is $643. O True O False