Sponsorships Can Be Used to Accomplish Each of the Following

question 22

Multiple Choice

Sponsorships can be used to accomplish each of the following objectives,except:

• A) showcase specific goods and services
• B) sell excess inventory
• C) increase profits
• D) help a firm develop closer relationships with current and perspective customers

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Definitions:

Capital Cost Allowance

A tax deduction in Canada allowing for the depreciation of capital assets to be deducted from income.

Tax Rate

The tax rate is the percentage at which an individual or corporation is taxed by the government on income or profits.

Class 43

Class 43 is a category used in certain tax systems for specific types of assets that qualify for accelerated depreciation, often related to clean energy or energy-efficient equipment.

CCA Rate

The rate of capital cost allowance, which is the amount of depreciation that can be claimed for tax purposes in Canada.