For Qualified Individuals,a Contribution to a Registered Retirement Savings Plan

question 60

Multiple Choice

For qualified individuals,a contribution to a registered retirement savings plan (RRSP) will be

• A)a tax credit.
• B)a deduction from total income.
• C)an employment deduction.
• D)a deduction from federal tax payable.

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Definitions:

Planning Budget

A budget that is made for future planning purposes, outlining projected revenues, costs, and other financial details.

Client-Visits

The occasions or instances when a service provider or sales representative meets with clients at their locations.

Activity Variance

The difference between how much an activity was expected to cost and how much it actually cost.

Administrative Expenses

Expenses that cannot be directly linked to the production or selling process and include costs related to the overall management and administration.