EGR Just Completed Its First Year End

question 68

Multiple Choice

EGR just completed its first year end.During the year,EGR recorded $12,000 in depreciation ($18,500 CCA) .In addition there was a deduction in the accounting records for meals and entertainment amounting to $6,000.As a result taxable income will:

• A) be higher than accounting income by $5,500.
• B) be lower than accounting income by $500.
• C) be higher than accounting income by $500.
• D) be lower than accounting income by $5,500.
• E) be equal to accounting income.

---

Definitions:

Domestic Violence

A behavioral model within relationships aimed at acquiring or sustaining power and control over a close partner.

Adolescent Abuse

Harmful treatment or exploitation of individuals in their teenage years, encompassing emotional, physical, sexual abuse, and neglect.

Child Homicide

The act of deliberately killing a child, which can be perpetrated by caregivers, family members, or others.

Long Term Problems

Issues or challenges that persist over an extended period, affecting individuals, communities, or societies, often requiring complex solutions.