Which of the Following Expenses Would Be Denied as a Deduction

question 9

Multiple Choice

Which of the following expenses would be denied as a deduction as per the provisions of the Canadian Income Tax Act?

• A) Legal and accounting fees incurred during the construction of a building.
• B) Work space in a home used as a taxpayer's principal place of business.
• C) Advertising costs in a non-Canadian newspaper directed at an American market.
• D) Maintenance fees on a yacht at Yellow Yacht Leasing Inc.

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Definitions:

Resistance To Change

Refers to the act of opposing or struggling with modifications or transformations that alter the status quo in an organization or personal life.

Same Rules

The principle of "same rules" refers to the application of uniform policies and guidelines to all members of a group, organization, or system, ensuring fairness and consistency in decision-making and behavior.

Increased Efficiency

The improvement in performance or productivity, achieving more output from the same or fewer inputs.

More Skilled

Refers to possessing higher levels of competence, expertise, or proficiency in a particular area or field compared to others.