Quiz 1 Chapter1 - Quiz 1 Chapter1 Canadian Tax System 1 Which of the following types of taxes is not currently in use by the federal government of

Quiz 1 Chapter1 - Quiz 1 Chapter1 Canadian Tax System 1...

  • Centennial College
  • BUSN 2843
  • Test Prep
  • jasika
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Quiz 1 Chapter1 Canadian Tax System1.Which of the following types of taxes is not currently in use by the federal government of Canada?A.Excise TaxesB.Custom Duties!!C. Head TaxD.Transfer TaxTax Policy Concepts2.Which of the following statements with respect to Canadian tax policy is NOTcorrect?Income Tax Reference Materials3.Which of the following statements with respect to tax reference materials is correct?4.Of the following statements related to liability for Canadian income tax, which statement is NOTcorrect?5.Which of the following statements with respect to the relationship between accounting Net Income and NetIncome For Tax Purposes is NOTcorrect?A.Both accounting Net Income and Net Income For Tax Purposes value many assets at their historical cost.B.Accounting Net Income requires that costs be matched with revenues.!!C. Net Income For Tax Purposes requires that costs be matched with revenues.D.Accounting Net Income is determined by applying Generally Accepted Accounting Principles.Page 1of 7
Calculation Of Net Income For Tax Purposes6.With respect to the determination of Net Income For Tax Purposes, which of the following statements iscorrect?

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