A Bond, Which Guarantees the Performance of the Terms of a Contract

question 41

Multiple Choice

A bond, which guarantees the performance of the terms of a contract, is a(n) :

• A) judicial bond.
• B) official bond.
• C) performance bond.
• D) fidelity bond.

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Definitions:

Eligible Dividends

Dividends designated by a corporation to be eligible for a reduced tax rate in the hands of individual Canadian shareholders.

Interest Income

Income earned from deposit accounts or investments through the receipt of interest payments.

Quebec

A province in eastern Canada known for its French heritage, culture, and language.

Marginal Tax Rates

The rate at which the next dollar of taxable income would be taxed, applied within a progressive income tax system.