Match the Following Descriptions with the Social Classes That Fit

question 1

Multiple Choice

Match the following descriptions with the social classes that fit best.
-They may be found in isolated rural areas or concentrated in urban centers. Public assistance is their main support.

• A) Upper class
• B) Middle class
• C) Lower middle class/working class
• D) Working poor
• E) Underclass/permanent poor

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Definitions:

Depreciation Tax Shield

A tax reduction achieved through deducting depreciation expenses, lowering taxable income.

Straight-Line Method

A method of calculating depreciation of an asset, which assumes the asset will lose an equal amount of value each year over its useful life.

CCA Rate

The Capital Cost Allowance rate, which is used for tax purposes to determine the yearly depreciation expense that can be claimed on tangible and intangible assets.

Depreciation Tax Shield

The reduction in income tax expense realized by depreciating fixed assets for tax purposes.