Question 9 (1 point) Which of the following statements concerning income taxes in Canada is not true? | 1) The deadline for filing a corporate tax return and payment of any outstanding taxes is six months after the company's year end. 2) Income taxes must often be estimated based on prior years' tax returns. 3) Income taxes are usually paid through instalment payments throughout the year. 4) Income taxes payable is reported as a current liability. Question 11 (1 point) A deferred income tax asset is created when the difference will result in 1) no income tax payable in the future. 2) none of the other answers. 3) higher income tax payable in the future. 4) lower income tax payable in the future. Question 13 (1 point) The depreciation method that is allowable under the Income Tax Act is referred to as | 1) Units of depletion. 2) Diminishing balance. 3) All are allowed. 4) Capital cost allowance. 5) Straight-line. Question 15 (1 point) All of the following are used to determine the bond premium or the bond discount except for 1) yield rate. O2) capital rate. 3) market rate. 4) coupon rate. Question 19 (1 point) There is an inverse relationship between the discount rate and the selling price of a bond. 1) True 2) False