Which of the Following Statements About Allowable Business Investment Losses

question 93

Multiple Choice

Which of the following statements about Allowable Business Investment Losses is correct?

• A)They are losses that result from the disposition of shares or debt in a Canadian con- trolled public corporation.
• B)They can only be deducted against business income.
• C)If they are not used during the current year, they are added to the net capital loss bal- ance.
• D)If they are not used during the current year, they are added to the non-capital loss bal- ance.

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Definitions:

Breach of Contract

Happens when a party does not meet their contractual responsibilities.

Negligent Driving

The act of operating a vehicle in a careless manner that deviates from the care expected to be shown by a reasonably prudent driver in similar circumstances.

Age

The length of time that a person or thing has existed.

Accident

An unexpected and unintentional incident, often causing injury or damage.