Reference no: EM133012297
Problem 1: Capital cost allowance is:
a. The amount of cash available for investments in new projects.
b. The transaction costs incurred in raising capital to finance new projects.
c. The amount of money available for managers' perks such as corporate jets and retreats.
d. Depreciation for tax purposes.
e. An accounting number used to accrue financing costs.
Problem 2: The difference between average and marginal tax rates is that
a. Average tax rate is applied to personal income, whereas marginal tax rate is applied to corporate income.
b. Average tax rate is calculated on next dollar earned, whereas marginal tax rate is calculated on total taxable income.
c. Average tax rate is calculated on total taxable income, whereas marginal tax rate is calculated on next dollar earned.
d. Average tax rate is based on average annual earnings, whereas marginal tax rate is based on average monthly earnings.
e. Average tax rate is applied to income at the end of each year, whereas marginal tax rate is applied to operating income at the end of each month.
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Which is not an advantage of the corporate form
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What the difference between average and marginal tax rates
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