Question
Kappa Limited paid $10,000 to purchase computer applications software (before applying HST) on January 31, 2011. Kappa Limited has a December 31 year-end. What is
Kappa Limited paid $10,000 to purchase computer applications software (before applying HST) on January 31, 2011. Kappa Limited has a December 31 year-end. What is the maximum tax deduction that Kappa Limited can claim in respect of the above expenditure for its taxation year ended December 31, 2011, assuming that Kappa is registered to collect and remit HST?
a. $5,000
b. $2,000
c. $525
d. $10,000
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Probability & Statistics For Engineers & Scientists
Authors: Ronald E. Walpole, Raymond H. Myers, Sharon L. Myers, Keying
7th Edition
9789813131279, 130415294, 9813131276, 978-0130415295
