Which of the Following Scenarios Is Not Allowed

question 2

Multiple Choice

Which of the following scenarios is not allowed?

• A) The taxable income of ABC Co. is reduced by the amount of dividends received from other taxable Canadian corporations.
• B)Mr. Blue's taxable income is reduced by the amount of dividends received from a taxable Canadian corporation.
• C) A donation of $5,000 to a registered charity by XYZ Co. in 20x0 is used to reduce XYZ's 20x0 $100,000 net income for tax purposes to a taxable income of $95,000.
• D) Little Co. has an $8,000 non-capital loss from a loss that arose in 20x0 and $10,000 of taxable dividends received from a Canadian corporation in 20x1, both of which will be deducted from Little Co.'s 20x1 net income for tax purposes.

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Definitions:

Cognitive Skills

Mental abilities and processes related to knowledge, reasoning, memory, attention, and problem-solving.

Decision Making

The cognitive process of selecting a course of action from among multiple alternatives.

Multisource Feedback Programs

Multisource feedback programs involve collecting performance evaluations from various sources, including peers, subordinates, and superiors, to provide a comprehensive view of an individual's performance.

Accurate Knowledge

Information that is correct, precise, and true to its nature.