Question a.

With respect to personal use property, which of the following is correct?

	the adjusted cost base is deemed to be the lesser of $1,000 and the actual adjusted cost base
	losses are taxed in the same manner as losses on other capital assets
	proceeds are deemed to be the greater of $1,000 and the actual proceeds
	gains are only taxed if the capital gain is greater than $1,000

Question b.

The special rules for a disposition of property that includes land and buildings should be applied when:

	There is a capital gain on the building and a capital loss on the land
	There is a capital gain on the building and a terminal loss on the land
	There is a capital gain on the land and a terminal loss on the building
	There is a capital gain on the land and a capital loss on the building