Question a)

Mr. Jones purchased 250 shares of Ruth 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. Jones sells 100 shares for $15 per share. His allowable capital loss on June 20 is $643.00.

	True
	False

Question c)

Which of the following is not included in ITA 53 as an adjustment to the adjusted cost base of an asset?

	CCA deductions taken.
	Forgiveness of debt on property.
	Government grants.
	Undeducted interest and property tax on vacant land