When shares of stock are sold, their adjusted cost base must be determined on the basis of the average cost of the shares acquired.

T/F

Capital gains on a principal residence are not taxable.

T/F

Losses on the disposition of listed personal property can be deducted, but only against gains on the disposition of listed personal property.

T/F

A dining room suite that had been purchased for $700 was sold during the year. The proceeds of disposition totalled $1,500. The taxable capital gain on the transaction is $250.

T/F

When there is a change in use, there will be a deemed disposition/reacquisition.

T/F