A Company Acting Ethically Must Adapt Its Internal Reports to Any

question 69

Multiple Choice

A company acting ethically must adapt its internal reports to any changes required

• A)instantly.
• B)as it is appropriate for its business cycle.
• C)as stipulated by the CPA Canada handbook and GAAP.
• D)if they are considered pertinent to its business activities.

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Definitions:

Progressive Tax

A tax that takes a larger share of the income of high-income taxpayers than of low-income taxpayers.

Benefits Principle

The principle of tax fairness by which those who benefit from public spending should bear the burden of the tax that pays for that spending.

Federal Tax

Taxes levied by the national government on income, sales, property, and other activities.

Benefits Principle

A taxation principle that charges individuals based on the benefits they receive from public services.