Fat Substitutes

question 153

Multiple Choice

Fat substitutes

• A) are not yet available in Canada but can be purchased overseas.
• B) can be carbohydrate-or protein-based.
• C) contribute the same number of calories per gram as fat.
• D) are used only in dessert foods and snacks.

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Definitions:

Tax Credit

An amount that taxpayers can subtract directly from taxes owed to the government.

Municipal Bonds

Bonds issued by local governments or their agencies, which are often used to fund public projects like schools, highways, and water systems, and may offer tax-exempt interest to investors.

Foreign Taxes Paid

This represents taxes paid to foreign governments on income earned outside of the taxpayer’s country of residence, often creditable against domestic taxes in the taxpayer’s home country to avoid double taxation.

Deferred Tax Liability

An accounting term that refers to a tax due in the future for income that has already been recognized in the financial statements.