Of Those Convicted Receive a Community Sentence Such as a Fine

question 27

Multiple Choice

of those convicted receive a community sentence such as a fine or probation.

• A) Two-thirds
• B) One-half
• C) One-third
• D) One-quarter

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Definitions:

Depreciation Tax Shield

A reduction in taxable income resulting from the ability to deduct depreciation expenses, thereby lowering the tax liability for a business.

CCA Deduction

Stands for Capital Cost Allowance deduction, a tax deduction in certain jurisdictions that allows businesses to deduct the depreciated value of capital assets.

Corporate Tax Rate

The tax rate imposed on the net income of a corporation by the government.

Tax Shield

The reduction in income taxes that results from taking an allowable deduction from taxable income, such as the interest on debt.