1) Which of the following statements about the progressive tax structure is FALSE?

A. It refers to corporate income tax when corporations that make more are taxed more

B. It refers to higher tax for more income

C. It is a feature of personal income tax

D. None of the above - all are true

2) All public limited companies in Canada need to follow which of the following accounting practices?

A. International Financial Reporting Standards

B. Accounting Standards for Private Enterprises

C. Canadian GAAP

D. Either A or C