Which of the Following Is Not Typically a Legitimate Tax

question 53

Multiple Choice

Which of the following is not typically a legitimate tax deduction in Canada?

• A)Mortgage interest on your home
• B)Union dues
• C)RRSP contributions
• D)The cost of some investment advice

---

Definitions:

Adjusting Entries

Journal entries made in accounting to update record balances before preparing financial statements, ensuring accuracy of the accounting records.

Accounts

Records within accounting that track financial transactions categorized by type, such as assets, liabilities, equity, revenue, and expenses.

Independent Contractor

An individual or entity engaged in a work performance agreement who is not considered an employee and does not receive employee benefits or protections.

Invoice

A document issued by a seller to a buyer that specifies the products or services being sold, their quantity, and the price.