Examlex
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Taxable Income
Refers to the amount of an individual's or a corporation's income used to determine how much tax is owed to a government in a given tax year.
Canada Revenue Agency
The federal agency responsible for administering tax laws for the Canadian government and for most provinces and territories.
Accumulated Depreciation
The total amount of depreciation that has been recorded against a fixed asset over its useful life, reducing its book value.
Loss of $1,000
A financial term indicating that an entity has incurred a negative financial result, specifically being $1,000 less than initially accounted for or expected.
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