A $40,000 Asset Was Purchased and Classified as a Class

question 45

Multiple Choice

A $40,000 asset was purchased and classified as a Class 10 asset for CCA purposes. If the CCA rate is 30%, calculate UCC for the end of year 3.

• A) $15,800
• B) $16,660
• C) $17,400
• D) $18,300
• E) $19,200

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Definitions:

Chicano/a

A term used to describe Americans of Mexican descent, typically associated with a sense of cultural pride and resistance against oppression.

Chicano/a

A term for individuals of Mexican descent born in the United States, reflecting a cultural identity associated with political activism and heritage.

Mexican Americans

denote individuals of Mexican heritage living in the United States, often retaining cultural ties while integrating into American society.

U.S. Federal Government

The U.S. Federal Government is the national government of the United States, consisting of three branches: legislative, executive, and judicial, established by the Constitution to govern the country.