23. Which of the following is NOT a taxable entity for Canadian income tax purposes? A) Darklyn Ltd., a Canadian resident corporation. B) Ms. Sarah Bright, a Canadian resident. C) Walters and Walters, a CPA partnership. D) The Martin family trust. 24. Which of the following forms of taxation provides the largest component of federal government taxation revenues? A) Personal income tax B) Corporate income tax C) GST D) Employment insurance premiums 25. Which of the following groups of entities are all subject to income tax? A) Individuals, proprietorships and corporations B) Proprietorships, corporations and trusts C) Individuals, trusts and corporations D) Individuals, partnerships and corporations
23. Which of the following is NOT a taxable entity for Canadian income tax purposes? A) Darklyn Ltd., a Canadian resident corporation. B) Ms. Sarah Bright, a Canadian resident. C) Walters and Walters, a CPA partnership. D) The Martin family trust. 24. Which of the following forms of taxation provides the largest component of federal government taxation revenues? A) Personal income tax B) Corporate income tax C) GST D) Employment insurance premiums 25. Which of the following groups of entities are all subject to income tax? A) Individuals, proprietorships and corporations B) Proprietorships, corporations and trusts C) Individuals, trusts and corporations D) Individuals, partnerships and corporations
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:23. Which of the following is NOT a taxable entity for Canadian income tax purposes?
A) Darklyn Ltd., a Canadian resident corporation.
B) Ms. Sarah Bright, a Canadian resident.
C) Walters and Walters, a CPA partnership.
D) The Martin family trust.
24. Which of the following forms of taxation provides the largest component of federal
government taxation revenues?
25.
A) Personal income tax
B) Corporate income tax
C) GST
D) Employment insurance premiums
Which of the following groups of entities are all subject to income tax?
A) Individuals, proprietorships and corporations
B) Proprietorships, corporations and trusts
C) Individuals, trusts and corporations
D) Individuals, partnerships and corporations
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