CRA Does NOT Allow Taxpayers to Estimate the Useful Lives

question 68

True/False

CRA does NOT allow taxpayers to estimate the useful lives of assets or depreciation rates.

---

Definitions:

Incentives To Work

Factors or motivations that encourage individuals to participate in the workforce, including wages, benefits, and working conditions.

Business Cycle

Recurring increases and decreases in the level of economic activity over periods of years; consists of peak, recession, trough, and expansion phases.

Gender Discrimination

Inequitable treatment or barriers faced by people based on their gender.

Real Domestic Output

The value of all goods and services produced within a country's borders in a given time period, adjusted for inflation.