If you have performed additional work on an asset to enhance its marketability, it is more likely that the sale of that asset will be considered to generate business income instead of a capital gain.

Question 3 options:

True False

The longer the period of ownership of an asset, the more likely it will be considered to generate a capital gain/loss on disposal instead of business income.

Question 1 options:

True False

Which of the following is a crime with the potential for prosecution in a criminalcourt?

Question 10 options:

tax compliance

tax avoidance

tax evasion

tax planning

There is(are) ________ acceptablemethod(s) of calculating installment payments for corporations.

Question 13 options:

1

4

3

2

Section 3 of the Income Tax Actdescribes:

Question 14 options:

the liability for income tax fornon-residents earning Canadian income

the computation of Taxable Income for a taxpayer for the current year

the liability for income tax for residents of Canada

the computation of Net Income for a taxpayer for the current year