Question 5 (1 point)

The losses from the following sources are considered non-capital loss, except _________.

Question 5 options:

a)	Professional loss

b)	Rental loss

c)	Business loss

d)	Capital loss

Question 6 (1 point)

All losses are generally allowed to be carried back to the _____________ preceding income that taxes have been paid on.

Question 6 options:

a)	Five years

b)	Seven years

c)	Three years

d)

One year

Question 7 (1 point)

The major difference between realizing a capital loss or a business investment loss is the sale of shares or the write-off of debts of a Small Business Corporation.

Question 7 options:

	True
	False

Question 8 (1 point)

All of the listed features or obligations differentiate a registered charity from a private corporation except one. Which one?

Question 8 options:

a)	Ability to issue donors official tax receipts

b)	Charity can incorporate like a private company

c)	Required to file Form T3010

d)	Requirement to meet annual spending quota