Examlex
If an asset's actual useful life is longer than the assigned recovery period, the MACRS tables cannot be used.
Ongoing Business
A company or an enterprise that is actively engaged in continuous operations or activities.
Partnership Act
A legal framework governing the rights, duties, and liabilities of partners in a business partnership.
Federal Government
A system of government where powers are divided between a central government and several regional governments.
Provincial Partnership Acts
Statutes enacted by provincial governments in Canada that govern the formation, operation, and dissolution of partnerships.
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