Provinces That Apply HST -

question 5

Multiple Choice

Provinces that apply HST -

• A)have an HST rate that is usually based on the original provincial tax rates
• B)do not have provincial taxes
• C)all have the same HST rate
• D)charge one HST rate for goods and a different rate for services

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Definitions:

Partnership

A lawful business structure involving two or more people who distribute both the management responsibilities and the profits.

Sole Proprietorship

A business structure where a single individual owns and runs the business, responsible for all its debts and liabilities.

Debt Financing

Borrowing money that must be repaid over time, with interest.

Collateral

is an asset pledged as security for the repayment of a loan, forfeitable in the case of default.