The Third Largest Category of U

question 105

Multiple Choice

The third largest category of U.S. exports in 2016 was _____, which accounted for _____ of total exports.

• A) capital goods; 24 percent
• B) services; 31 percent
• C) industrial supplies; 18 percent
• D) consumer goods; 9 percent
• E) food; 31 percent

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Definitions:

Corporate Tax Rate

The percentage of a corporation's taxable income that is paid as tax to the government, varying by country and sometimes within regions of a country.

CCA Class

Refers to the classification of assets for tax purposes in Canada, determining the rate at which an asset depreciates.

Net Advantage

The benefit that results from a certain business decision, considering all related costs and revenues.

CCA Rate

Capital Cost Allowance rate, which is the percentage used to calculate depreciation for tax purposes on capital assets.