Carmel CoEarned $20,000 in Revenue and Paid $15,000 in Expenses (That

question 6

Multiple Choice

Carmel Co.earned $20,000 in revenue and paid $15,000 in expenses (that do not include meals and entertainment) .How much GST will Carmel remit using the simplified ITC calculation? (Carmel is in a province with 5% GST.)

• A)$0
• B)$238
• C)$250
• D)$652

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Definitions:

Squint

A condition where the eyes do not properly align with each other when looking at an object, leading to uncoordinated eye movements.

Opponent Process Theory

A theory of color vision and visual processing that proposes color perception is controlled by the activity of two opponent systems: a blue-yellow mechanism and a red-green mechanism.

Afterimage

A visual phenomenon where an image continues to appear in one's vision after the exposure to the original image has ended.

Subtractive Colour Mixing

A process of mixing colors by removing wavelengths of light, resulting in a color that is a mixture of the two or more source colors, typical in pigment mixing.