Question

For stock sales, taxpayers need to pay special attention to the settlement date (the date the cash or other property is paid to the seller) rather than th e date of the sale because the settlement date is relevant in determining the holding period. a) True

b) False

Answer 1

The statement is true; the colonists objected to the lack of representation in British Parliament concerning tax decisions, not to the concept of taxation itself.

Step-by-step explanation:

The statement that colonists did not necessarily object to the principle of taxation, but rather how the tax money would be applied is indeed true. The colonial discontent leading up to the American Revolution stemmed largely from the fact that they had no direct representation in the British Parliament, which levied taxes upon them. This lack of representation led to the rallying cry of 'no taxation without representation,' indicating that the issue was not with taxes per se, but with the colonists' lack of a say in how those taxes were imposed and spent.