6 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 federalgovernment taxation revenues?25.A) Personal income taxB) Corporate income taxC) GSTD) Employment insurance premiumsWhich of the following groups of entities are all subject to income tax?A) Individuals, proprietorships and corporationsB) Proprietorships, corporations and trustsC) Individuals, trusts and corporationsD) Individuals, partnerships and corporations

Any organization or person acknowledged by tax authorities as being responsible for paying taxes on…

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

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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