. Of the following individuals who would be a resident or deemed resident of Canada for tax purposes this year?Alex is a U.S. citizen who commutes each day to Canada for employment purposes.Bob is a U.S. citizen who lives in Canada during the week for employment purposes but returned to the U.S. on weekends to the house he shares with his wife and children.Charles is a Canadian citizen who lived in Toronto until March of last year, at which time he left for a 4-year aid-mission in Africa under an agreement with the Canadian International Development Agency.Derrick is a Canadian citizen who goes to school in the US for 8 months of each year but returns to Canada to live with his parents each summer.Alex and BobAlex, Bob and CharlesBob, Charles and DerrickAll of the aboveNone of the abovE

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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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. Of the following individuals who would be a resident or deemed resident of Canada for tax purposes this year?

Alex is a U.S. citizen who commutes each day to Canada for employment purposes.
Bob is a U.S. citizen who lives in Canada during the week for employment purposes but returned to the U.S. on weekends to the house he shares with his wife and children.
Charles is a Canadian citizen who lived in Toronto until March of last year, at which time he left for a 4-year aid-mission in Africa under an agreement with the Canadian International Development Agency.
Derrick is a Canadian citizen who goes to school in the US for 8 months of each year but returns to Canada to live with his parents each summer.

Alex and Bob
Alex, Bob and Charles
Bob, Charles and Derrick
All of the above
None of the abovE

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