Canadian Income Taxation 2022/2023 25th Edition William Buckwold, Joan Kitunen, Matthew Roman, Abraham Iqbal Test Bank
Taxation
( Test Bank)
Canadian Income Taxation 2022/2023 25th Edition William Buckwold, Joan Kitunen, Matthew Roman, Abraham Iqbal Test Bank
Edition: 25thEdition
Author Name:William Buckwold, Joan Kitunen, Matthew Roman, Abraham Iqbal
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MULTIPLE CHOICE – Choose the one alternative that best completes the statement or answers the question.
1) Which of the following is not considered to be a separate entity for tax purposes in Canada?
1) ______
- A) An individual
B) A proprietorship
C) A corporation
D) A trust
Question Details
Accessibility : Keyboard Navigation
Topic : 01-04 The Fundamental Income Tax Structure and Its Complexity
Bloom’s : Remember
2) Which of the following attitudes and actions is most likely to help decision-makers develop an efficient approach to taxation?
2) ______
- A) Cash flows should be considered from a before-tax perspective when making decisions.
B) Functional managers should not be held responsible for the tax effects of decisions within their divisions.
C) Tax costs to a business should be regarded as controllable expenses, much like product costs and selling costs.
D) All managers should own a copy of the Income Tax Act.
Question Details
Accessibility : Keyboard Navigation
Topic : 01-02 Taxation – A Controllable Cost
Bloom’s : Understand
3) Which of the following statements is true?
3) ______
- A) Dividends paid by a corporation are deductible by that corporation and are a form of property income for the recipient.
B) Dividends paid by a corporation are deductible by that corporation and are a form of business income for the recipient.
C) Dividends paid by a corporation are not deductible by that corporation and are a form of business income for the recipient.
D) Dividends paid by a corporation are not deductible by that corporation and are a form of property income for the recipient.
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