According to the CRA, for a Lease to Be Valid

question 171

True/False

According to the CRA, for a lease to be valid for tax purposes, then the lease must have a bargain purchase option, transferring the residual value to the lessee.

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Definitions:

Acidosis

A condition in which there is an excessive acid in the body fluids, leading to lower than normal pH levels.

Physiologic Activity

Bodily functions and processes that are necessary for maintaining life and health.

Central Nervous System

The part of the nervous system consisting of the brain and spinal cord that coordinates activity throughout the body.

Hypoglycemic Reaction

A condition characterized by an abnormally low level of glucose in the blood, often causing symptoms such as dizziness, sweating, and confusion.