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Hello,
I’m sorry I’m coming up with more questions as I’m going through the tax course.
In Chapter 12 MCQ 1, the correct answer was A because it is exempt since it’s a wasting chattel.
I wanted to know about option B. I mean how do we categorize it. Do we categorize it as a non-wasting chattel. Or is it not categorized under Chattels itself?
Thank you once again.
A chattel is an asset that you can physically touch and physically move.
Shares are not chattels.
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