Which of the Following Is Likely to Cause a Fall

question 52

Multiple Choice

Which of the following is likely to cause a fall in the wage rate and an increase in the number of workers hired in a local cotton mill?

• A) A reduction in wages paid in a nearby jute mill
• B) The introduction of labor-saving technology in the mill
• C) The introduction of labor-complementary technology in the mill
• D) A decrease in the population of the region in which the cotton mill is located

Understand the foundational concepts of corporation formation and the importance of articles of incorporation.

Know the powers and limitations of corporate officers and directors within the context of business operations.

Recognize the significance of the corporate veil and circumstances under which it may be pierced.

Differentiate between types of corporations based on incorporation jurisdiction and purpose.

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Definitions:

Old Age Security Clawback

A repayment obligation that kicks in when the annual income of an Old Age Security (OAS) recipient exceeds a certain threshold, reducing the OAS benefit.

Net Income

The sum of income remaining after subtracting all costs and taxes from the total revenue.

Tax Returns

Documents filed with the government detailing income earned, tax payable, and other financial information, used to assess tax liabilities.

OAS Benefits

Monthly payments provided by the government to eligible individuals who are 65 years of age or older, as part of the Old Age Security program in Canada.