Test Bank forCanadian Income Taxation: Planning and Decision Making 25e Edition by William Buckwold, Joan Kitunen, Matthew Roman, Abraham Iqbal.
ISBN-13: 1202
Full Chapters test bank included
Part 1 A Planning and Decision-Making Approach to Taxation
Chapter 1 Taxation-Its Role in Decision...
Chapter 01 2022-23
1) Which of the following is not considered to be a separate entity for tax purposes in
Canada?
A) An individual
B) A proprietorship
C) A corporation
D) A trust
2) Which of the following attitudes and actions is most likely to help decision-makers
develop an efficient approach to taxation?
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.
3) Which of the following statements is true?
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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