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Plz help me out for this true and false question to get perfect answer 1. While charitable donations cannot be deducted by a corporation, they

Plz help me out for this true and false question to get perfect answer

image text in transcribed 1. While charitable donations cannot be deducted by a corporation, they can be used as the basis for a tax credit. True or False? 2. When a corporation receives eligible dividends, they do not gross them up by 38 percent and include the grossed up amount in Net Income For Tax Purposes. True or False? 3. For a corporation, dividends received from other taxable Canadian corporations are included in the determination of the non-capital loss for the current year. True or False? 4. Because they expire after 20 years, non-capital losses should always be deducted prior to deducting net capital losses which have an unlimited carry forward period. True or False? 5. Full Rate Taxable Income does not include income that is eligible for the small business deduction, but it does include income that is eligible for the manufacturing and processing deduction. True or False? 6. In certain circumstances, rental income can be considered active business income. True or False? 7. A Specified Investment Business is a business that primarily earns property income and employs in the business, throughout the year, more than 5 full-time employees True or False? 8. If a corporation is classified as a Personal Services Business, the only deductions in the determination of its Net Income For Tax Purposes will be for salaries, wages, and other expenses that would normally be deductible against employment income. True or False? 9. A Canadian controlled private company will never be able to use the General Rate Reduction provision. True or False? 10. If amounts of taxes paid on foreign source business income are not used as a credit during the current year, they can be carried back to the 3 preceding taxation years and forward to the 10 subsequent taxation years. True or False? 11. Charitable contributions that are not used during the current year can be carried forward for five years, without regard to whether the taxpayer is an individual or a corporation. True or False? 12. Non-capital loss carry overs must be deducted in the order in which they were incurred, the oldest one first, followed by amounts arising in later years. True or False? 13. The base used for calculating the M&P deduction is reduced by the amount of the small business deduction. True or False? 14. A corporation's non-business foreign income tax credit is limited to 15 percent of foreign non-business income earned. True or False? 15. A corporation's Net Income For Tax Purposes includes the full amount of any foreign non-business income, without regard to the amount of taxes withheld in the foreign venue. True or False

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