Which of the Following Expenses Would Be Denied as a Deduction

question 2

Multiple Choice

Which of the following expenses would be denied as a deduction as per the provisions of the Canadian Income Tax Act?

• A)Maintenance fees on a yacht at Yellow Yacht Leasing Inc.
• B)Legal and accounting fees incurred during the construction of a building.
• C)Advertising costs in a non-Canadian newspaper directed at an American market.
• D)Work space in a home used as a taxpayer's principal place of business.

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Definitions:

Different Groups

Distinct categories or clusters in which data points are divided based on specific characteristics or treatments.

Confidence

The feeling of trust or belief in someone or something; in statistics, it refers to the degree to which one can be certain in the accuracy of a result.

Proportion

A part, share, or number considered in comparative relation to a whole; a type of ratio.

Right-Handed

Describes individuals who inherently prefer using their right hand for tasks such as writing and eating, reflecting a neurological base for handedness.