TAXX 301 TAXATION I (ATHABASCA UNIVERSITY) PRACTICE EXAMS -FROM CHAPTER 1 -10 COMPLETE EXAM QUESTIONS AND ANSWERS 2023 EXAM UPDATE
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Course
TAXX 301
Institution
TAXX 301
Chapter 1 (Introduction)
Instructions To Students
Create An Examination Environment
Your text, the accompanying Study Guide and the Companion Website provide you with a large number of Exercises, Self Study Problems and Supplementary Self Study Problems for which solutions are provided. The...
lOMoAR cPSD|6353920 TAXX 301 TAXATION I (ATHABASCA UNIVERSITY) PRACTICE EXAMS -
FROM CHAPTER 1 -
10 COMPLETE EXAM QUESTIONS AND ANSWERS 2023 EXAM UPDATE lOMoAR cPSD|6353920 Practice Exam - Chapter 1 (Introduction) Page 1 Chapter 1 (Introduction) Instructions To Students Create An Examination Environment Your text, the accompanying Study Guide and the Companion Website provide you with a large number of Exercises, Self Study Problems and Supplementary Self Study Problems for which solutions are provided. These problems are designed to assist you with understanding the content of each chapter. In contrast, the goal of this Practice Examination is to help you evaluate your ability to write the examinations in your tax course. To get the maximum benefit from this Practice Examination, you should write it under exami - nation conditions. It is designed as a 90 minute examination and should be written within that time constraint . You should choose a location where you will not be distracted and set aside 90 minutes of time during which you will not be interrupted. Materials To Be Used During the Examination Any materials that you use while writing this Practice Examination should be consistent with the materials that will be available during your tax course examinations. These vary from course to course depending on the instructor and can include the following possibilities: • you may be provided with the list of “ Rates and Other Data” that is found in the front of your Canadian Tax Principles textbook and on the Companion Website, • you may be allowed to bring into the examination room: • a copy of the Income Tax Act, or • a “cheat sheet” with various notes, or • your Canadian Tax Principles textbook. You should determine exactly what materials are allowed for your tax examination, either from your course outline or from your instructor. You should then write this Practice Examina - tion using only the materials permitted for your examination. Types Of Questions Different instructors use alternative types of questions on their examinations. This examina - tion includes essay questions, true or false questions, and multiple choice questions. However, the majority of the marks on this examination are allocated to problems that are similar to the Exercises , Self Study Problems and Supplementary Self Study Problems that are available through your Canadian Tax Principles text. This content may not be consistent with the types of questions used by the instructor in your course (e.g., an instructor might choose to have an examination that contains only multiple choice questions, or only one comprehensive question). You should take this into consider - ation when you are evaluating your results on this examination. Show Your Calculations We think it is important for students to realize that showing their calculations clearly can result in many part marks, even if the final answer is wrong. Your instructor could have a different approach to marking than the one shown in this solution, but it would be very rare that part marks are not available on more complex questions. Practice Exam lOMoAR cPSD|6353920 Practice Exam - Chapter 1 (Introduction) Page 2 How To Use The Marking Guides In the solution to this Practice Examination, we have provided information on how we would allocate the marks for each question. In some cases, this allocation is very straightforward. For example, if a 12 mark question consists of 6 multiple choice questions, 2 marks will b e allo - cated to each correct answer. However, in other situations the allocation process is more complex. Consider, for example, an employment income calculation that has 11 separate components (i.e., salary, RPP contri - butions and so forth). If 15 grading marks were assigned to this problem, the marking guide could assign 1.36 marks (15 marks divided by 11 components) to each line or, alternatively, award more than one mark to some components. Both of these approaches can be awkward. To resolve this problem, the marking guides that we provide in these more complex situations will be based on “grading points”. In the preceding example, 11 grading points would be assigned to this question — one for each component in the calculation. These “grading points” would then be converted into the relevant mark. Continuing the example, if you had 8 of 11 components in the calculation correct, this result would be converted to a mark as follows: [(8 ÷ 11)(15%)] = 10.9% In the solution for this Practice Examination, these grading points have been identified with highlighting the appropriate number or word(s).
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