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Test Bank for Canadian Income Taxation , 26th Edition by Buckwold CA$57.55   Add to cart
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Test Bank for Canadian Income Taxation , 26th Edition by Buckwold
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Test Bank for Canadian Income Taxation 2023 - 2024 26e 26th Edition by William Buckwold, Joan Kitunen, Matthew Roman, Abraham Iqbal. Full Chapters test bank included - Chapter 1 to 23 Part 1 A Planning andDecision-Making Approach to Taxation Chapter1 Taxation—Its Role in Dec...

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  • August 16, 2023
  • 350
  • 2023/2024
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Chapter 01 2023-2024 26e



1. Award: 10.00 points



Which of the following is not considered to be a separate entity for tax purposes in Canada?


 An individual

 A proprietorship

 A corporation

 A trust



A proprietorship is correct as the entities subject to tax on income in Canada are individuals,
corporations, and trusts.



2. Award: 10.00 points




Which of the following attitudes and actions is most likely to help decision-makers develop an
efficient approach to taxation?


 Cash flows should be considered from a before-tax perspective when making decisions.

 Functional managers should not be held responsible for the tax effects of decisions within
their divisions.

 Tax costs to a business should be regarded as controllable expenses, much like product
costs and selling costs.

 All managers should own a copy of the Income Tax Act.



Taxation should be considered in all aspects of business planning on an ongoing basis.

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