Question
1.For qualified individuals, a contribution to a registered retirement savings plan (RRSP) will be Select one: a. an employment expense. b. a tax credit. c.
1.For qualified individuals, a contribution to a registered retirement savings plan (RRSP) will be
Select one:
a. an employment expense.
b. a tax credit.
c. a deduction from total income.
d. a deduction from federal tax payable.
2. A cash flow statement is
Select one:
a. not concerned with unusual sources of income or irregular minor expenses.
b. a forecast of cash inflows and outflows in the future.
c. only concerned with the most recent regular expenses and incomes.
d. an accurate recording recent actual expenses and incomes.
3. Total income includes all of the following except
Select one:
a. salary or wages.
b. capital gains realized.
c. inheritances.
d. interest or dividends received.
4. Which of the following incomes are taxed at a lower rate?
Select one:
a. Interest
b. Tips
c. Capital gains
d. Salary
5. If both a husband and a wife are employed full time, their consumption behaviour
Select one:
a. is unlikely to be affected.
b. will decrease as they age.
c. tends to decrease.
d. is usually higher.
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access with AI-Powered Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started