Which of the following is not one of the three basic areas that distinguish a Canadian-controlled private corporation (CCPC) from other corporations? Question 12 options: Double taxation Secondary relationships Rates of tax Primary relationships

Which of the following accurately describes the similarities in the tax treatment of leasing an asset or purchasing the asset with debt?

Question 13 options:

	The after-tax net present value of the two methods will usually be identical.
	Both methods allow for deductions that reduce taxable income.
	Capital cost allowance is always expensed for both alternatives.
	The timing of cash payments and tax savings is the same under both alternatives.