INSTRUCTIONS: Choose the Word or Phrase in [ ] That

question 101

Short Answer

INSTRUCTIONS: Choose the word or phrase in [ ] that will correctly complete the statement. Select A for the first item, B for the second item, and C if neither item will correctly complete the statement.
Fifty shares of stock would constitute [ an odd lot | a round lot ].

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Definitions:

Comprehensive Income

A measure of all changes in equity of an enterprise during a period, except those resulting from investments by and distributions to owners.

Depreciation

An accounting method of allocating the cost of a tangible asset over its useful life, representing how much of an asset's value has been used up over time.

CCA Rate

The rate at which a business can claim Capital Cost Allowance, which is depreciation for tax purposes.

Marginal Tax Rates

This is the percentage of tax applied to your next dollar of income, varying with taxpayers' income levels within defined tax brackets.