At the End of 2020, Its First Year of Operations

question 38

Multiple Choice

At the end of 2020, its first year of operations, Halifax Corp. prepared the following reconciliation between pre-tax accounting income and taxable income: $$\begin{array} { l r } \text { Pre-tax account ing income } & \$ 800,000 \\\text { Estimated lawsuit expense } & 400,000 \\\text { Excess CCA for tax purposes } & ( 900,000 ) \\\text { Taxable income } & \$ 300,000\end{array}$$ The estimated lawsuit expense of $ 400,000 will be deductible in 2021 when it is expected to be paid. Use of the depreciable assets will result in taxable amounts of $ 300,000 in each of the next three years. The income tax rate is 25% for all years. Halifax adheres to IFRS requirements. The deferred tax liability to be recorded is

• A) $ 225,000.
• B) $ 200,000.
• C) $ 100,000.
• D) $ 0.

Understanding different training methods and their effectiveness in various learning outcomes.

Recognizing the stages and importance of role-play in training.

Differentiating between case study and case incident methods in training.

Acknowledging the significance of mixed modeling strategies in behavioral training.

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Definitions:

Antibodies

Proteins produced by the immune system to neutralize or destroy foreign substances, such as bacteria and viruses.

Inhibits Blood Clotting

Affects the body's ability to form blood clots, potentially delaying or preventing the clotting process.

Bone Marrow

The soft fatty tissue inside bones where blood cells are produced.

Red Blood Cells

Cells in the blood that carry oxygen from the lungs to all parts of the body and return carbon dioxide to be exhaled.