Samantha Is an Accounting Major Who Has Been Disturbed by All

question 113

Multiple Choice

Samantha is an accounting major who has been disturbed by all of the recent accounting scandals. She has decided to dedicate her career to catching those involved in embezzlement, securities fraud, money laundering, and other white collar crimes. What should she train to become?

• A) certified bookkeeper
• B) transactional accountant
• C) Canada Revenue Agency analyst
• D) forensic accountant

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Definitions:

Net Advantage to Leasing

This refers to the total financial benefits that a company might gain from leasing assets rather than purchasing them outright, taking into account tax advantages, cash flow, and risk factors.

CCA Rate

The Capital Cost Allowance (CCA) rate refers to the percentage rate at which a business can claim depreciation on certain property types for tax purposes in Canada.

Net Advantage to Leasing

This is a calculation used to determine if leasing an asset is a more cost-effective option than purchasing it outright, taking into account all the costs and benefits associated with leasing.

Straight-Line Depreciation

A method of allocating the cost of a tangible asset over its useful life in an even manner.