MC - Intro to ITA

MC - Intro to ITA - 1 INTRO TO THE ACT MULTIPLE CHOICE...

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1 INTRO TO THE ACT MULTIPLE CHOICE QUESTIONS Select the most appropriate answer for the following questions from the list provided. 1. Regulations to the Income Tax Act : (a) are passed by Parliament (b) are found in Information Circulars published by the CRA (c) are amended by Order-in-Council without parliamentary ratification (d) have no legal implication (e) none of the above 2. In the context of “income for tax purposes,” income is: (a) a net concept (b) a gross concept (c) synonymous with accounting income (d) not computed for each source of income (e) none of the above 3. The term “assessing policy” refers to: (a) the strict and literal interpretation of tax provisions (b) the manner in which the CRA interprets and assesses certain provisions of the Act (c) the decisions rendered by the Tax Court of Canada (d) the CRA’s interpretation of all provisions of the Act (e) none of the above 4. A charging provision is a tax provision which: (a) establishes a taxpayer’s liability for tax
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MC - Intro to ITA - 1 INTRO TO THE ACT MULTIPLE CHOICE...

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