Ontario Barrister and Solicitor Practice Exam

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What does ACB stand for?

Adjusted Cost Base
Annual Cumulative Benchmark
Accrued Capital Benefits
Average Cost Benchmark

The correct answer is: Adjusted Cost Base

ACB stands for Adjusted Cost Base. This is the standard measurement for capital gains taxes in Canada. The other options are incorrect because - Option B, Annual Cumulative Benchmark, is not a commonly used term in finance and does not provide a clear definition related to ACB. - Option C, Accrued Capital Benefits, is not a commonly used term in finance and does not relate to the calculation of capital gains taxes. - Option D, Average Cost Benchmark, is not a commonly used term in finance and does not specifically refer to the calculation of capital gains taxes, unlike the correct answer A.