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EGR just completed its first year end. During the year, EGR recorded $12,000 in depreciation ($18,500 CCA). In addition there was a deduction in the
EGR just completed its first year end. During the year, EGR recorded $12,000 in depreciation ($18,500 CCA). In addition there was a deduction in the accounting records for meals and entertainment amounting to $6,000. As a result taxable income will:
Question 9 options:
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| Will be equal to accounting income |
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| Be lower than accounting income by $500 |
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| Be higher than accounting income by $6,500 |
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| Be lower than accounting income by $3,500 |
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