21.

Which of the following is true with respect to the taxation year in Canada?

Select one:

a. Individuals may use the calendar year or choose any fiscal year as their tax year.

b. Corporations may not change their fiscal year under any circumstances.

c. Corporations may choose any fiscal year, as long as it is consistent and not longer than 53 weeks.

d. Corporations must use the calendar year as their tax year.

22.

Which investors in the split share structure expose themselves to higher market risk due to inherent leverage?

Select one:

a. Portfolio share investors.

b. Preferred share investors, but only if they are buying the shares on margin.

c. Split preferred share investors.

d. Capital share investors.