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What Are Some of the Less Well-Known Allowable Expenses Permitted

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Essay

What are some of the less well-known allowable expenses permitted by the Canada Revenue Agency?


Definitions:

Cash

The most liquid asset, representing currency or bank balances that can be used immediately to settle debts.

Fees Earned

Revenue from providing services.

Stockholders' Equity

The portion of the balance sheet that represents the capital received from investors in exchange for stock, plus retained earnings.

Assets

Resources owned or controlled by a business or individual that are expected to produce future economic benefits.

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