If the Employees' CPP Deductions for the Week Total $500

question 57

Multiple Choice

If the employees' CPP deductions for the week total $500, the employer's CPP contribution will be

• A) $500.
• B) $50.
• C) $20.
• D) $700.

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Definitions:

Market Value

The price at which an asset would trade in a competitive auction setting.

Opportunity Cost

The expense incurred from bypassing the next most favorable choice when a decision is made.

Tax Rate

The percentage at which an individual or corporation is taxed by the government.

Market Value

The current price at which an asset or service can be bought or sold in an open market.