The Three Factors That Generally Influence Depreciation Under IFRS/ASPE Are

question 59

Multiple Choice

The three factors that generally influence depreciation under IFRS/ASPE are: amount allowable for depreciation, allowable life of asset, and allowable methods of depreciation.In Canada, for tax purposes

• A)the amount allowable for CCA is the cost of the asset, and, the allowable life of asset and the amount of salvage value are determined by its Class under the Income Tax Act.
• B)the amount allowable for CCA is the cost of the asset; the tax-based depreciation rate is determined by the Class of the asset under the Income Tax Act, and neither the estimated life of asset nor the amount of estimated salvage value are relevant in calculating the CCA claim.
• C)the allowable depreciation for tax purposes (CCA)is increased for the first year only.
• D)depreciable assets are placed in various classes by the Income Tax Act, based on their estimated salvage value.
• E)in the year of acquisition of new assets into an existing pool the allowable CCA claim is based on 50% of all the assets in the pool.

Identify and describe major economic problems associated with the U.S. health care system.

Explain the effects of positive and negative externalities in health care markets.

Recognize the impact of income on health care demand.

Understand the challenges and effects of health insurance availability on health care demand and costs.

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Definitions:

Lower Court Cases

Legal disputes and decisions that are handled in courts with limited jurisdiction, such as municipal or district courts.

Percent

A unit of measure used to express a proportion or fraction of 100.

Federal Courts

Courts established by the federal government of a country that have jurisdiction over matters involving federal laws.

Civil Cases

Legal disputes between individuals or organizations that often involve issues of private law, such as contracts, property, and family relations.