*
Interactive-Training-Session-
X
.
Frankie
got
a
sales
position
v
L
S
VACYE
Lol
2150
i
B
.
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learn.humber.ca/u
/courses/2334581Iotllnelasesmenil_169§9§15_lven)iewlétteptl_31023092_1Ireviewlinline-feedback?atempt|d=_31023092
7
Attempt
1
Submitted
12/6/23,
9:14
AM
(EST)
[
Question
scores
appear
after
all
grades
are
posted
Question
25
Bertrand
is
the
of
a
Canadi
lled
(CCPC),
which
is
expecting
net
income
for
this
fiscal
year
to
be
$600,000.
Which
of
the
following
methods
can
NOT
be
used
to
reduce
this
net
income
to
within
the
small
business
deduction
limit?
@
contribution
to
deferred
profit
sharing
plans
declaration
of
salaries
and
bonuses
@
contribution
to
employee
RRSPS
Question
26
Adam
originally
purchased
a
computer
for
home
use
for
$1,400.
This
year
she
sold
the
system
for
$400. He
also
sold
the
wrought
iron
patio
set
that
she
bought
several
years
ago
for
$500
for
$1,300.
Finally,
Adam
sold
a
painting
that
he
purchased
a
few years ago
for
$900
for
$1,600.
Which
of
the
following
statements
is
FALSE?
The
deemed
proceeds
for
the
computer
system
is
$1,000.
@
His
deemed
ACB
for
the
painting
is
$1,000.
@
He
realized
a
capital
gain
of
$300
on
the
sale
of
the
patio
furniture.
Question
27
The
return
can
expectona
depends
upon
its
structure
and
type.
A
tax-advantaged
investment
could
NOT
be
structured
to
yield
@
a
greater
tax
benefit
with
reduced
cash
flows
and
appreciation
a
greater
cash
flow
with
greater
tax
be
and
appreciation
@
a
greater
potential
for
appreciation
with
reduced
tax
benefits
and
cash
flow
(D)
a
greater
cash
flow with
reduced
tax
benefits
and
appreciation
Question
28
Rob,
Neal
and
Lil
are
partners
in
a
limited
partnership.
Rob
is
the
general
partner.
Neal
and
Lil
are
limited
partners.
from
the
parts
hi
d
ab:
ded
to
Cuba.
Neal
and
Lil
decided
to
take
over
the
management
of
the
fi
d
'd
10
Op!
.
Which
of
the
following
statements
are
TRUE?
1.When
Lil
and
Neal
began
managing
the
business,
they
became
liable
for
the
partnership's
debts.
2.
Even
though
Lil
and
Neal
assumed
management
roles,
as
limited
partners,
the
most
they
can
lose
is
their
investment
in
the
partnership.
3.
The
p:
hip
limited
p:
4.The
partnership
can
continue
to
operate
as
a
limited
partnership
without
a
limited
partner.
®
2oy
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