An Example of a Regressive Tax in Canada Is

question 36

Multiple Choice

An example of a regressive tax in Canada is

• A)the corporate income tax.
• B)the typical property taxes in Canadian cities and towns.
• C)the provincial income taxes.
• D)any one of the provincial sales taxes.
• E)the federal income tax.

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Definitions:

Revenue Recognition

An accounting principle that determines the specific conditions under which income becomes realized or realizable, and thus recognized as revenue.

Property Taxes

Taxes levied by local governments based on the assessed value of real property.

Revenue Recognition

The accounting principle that revenue should be recorded when it is earned, regardless of when the payment is received.