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:

Margin of Error

An expression of the amount of random sampling error in a survey's results, indicating the range of possible true values.

Confidence Level

In statistics, it represents the degree of certainty or probability that a parameter lies within a specified range.

Television Viewers

Individuals who watch content on television sets.

Plus Four Confidence Interval

A variation of the confidence interval estimate that includes an adjustment for small sample sizes.