A $40,000 Asset Was Purchased and Classified as a Class

question 232

Multiple Choice

A $40,000 asset was purchased and classified as a Class 10 asset for CCA purposes. If the CCA rate is 30%, calculate CCA for year 3.

• A) $7,140
• B) $8,250
• C) $9,360
• D) $10,470
• E) $11,580

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Definitions:

Chromosomes

Thread-like structures located inside the nucleus of animal and plant cells, made of protein and a single molecule of deoxyribonucleic acid (DNA), carrying genetic information in the form of genes.

Mutation

A change in the DNA sequence of an organism's genome, which can lead to variations in physical appearance, behavior, or physiology.

DNA

A molecule that carries the genetic instructions used in the growth, development, functioning, and reproduction of all known living organisms and many viruses.

Genome

Includes all the hereditary information of an organism. The genome comprises the totality of the DNA, including the coding and noncoding regions.