Which of the Following Is Considered to Be an Added

question 50

Multiple Choice

Which of the following is considered to be an added advantage that flows to a private corporation?

• A) tax-free retention of 23 percent of all HST collected from consumers
• B) refund of the GST paid on the first $400 000 of annual business income
• C) tax-free GST retention on first $400 000 in fiscal earnings on sale of goods or services
• D) reduced tax rate on first $400 000 of business income earned in each fiscal year

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Definitions:

Problem Solving Strategy

A method or plan of action used to find a solution to a problem or challenge.

Heuristics

Mental shortcuts or rules of thumb that simplify decision making, not guaranteed to be optimal, perfect, logical, or rational, but are sufficient for reaching an immediate goal.

Elimination

The process through which the body removes waste materials, such as urine and feces, from its systems.

Trial And Error

A fundamental method of solving problems characterized by repeated, varied attempts until success or a solution is achieved.