The Following Table Lists the Average Price of Home Listings

question 57

Multiple Choice

The following table lists the average price of home listings in Canada from January 2007 to January
2014. (See Connect for Data Set 7: CREA 2014) .

Forecast the average home price listing for Jan-15.

• A) $379 148
• B) $393 508
• C) $407 868
• D) $422 228
• E) $364 788

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Definitions:

Deferred Tax Liability

A tax obligation that arises from temporary differences between the book value and tax value of assets and liabilities, to be paid in the future.

Accumulated Depreciation

The total amount of a tangible asset's cost that has been allocated as depreciation expense over the asset's useful life.

Tax Rate

The percentage at which an individual or corporation is taxed by the government.

Tax Purposes

Refers to the reasons or contexts in which financial and operational information is gathered and analyzed to comply with tax laws and regulations.