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1. Lang Lang Ltd., a CCPC eligible for the small business deduction, has a March 31 year end. Due to the death of the owner/manager, the tax return for the year ended March 31, 2017 was not filed until May 12, 2019. The unpaid tax on March 31, 2017 was $15,500. Lang Lang Ltd. has never filed a return late before. What is the total late file penalty that the corporation is required to pay? (Do not include any interest payable.)

A. $775

B. $2,635

C. $1,860

D. $3,720

2. Which of the following statements with respect to corporations is NOT correct?

A. Corporate income tax returns must be filed within 6 months of the end of the taxation year.

B. All corporations must file their income tax returns electronically.

C. If the corporation is a CCPC, the due date for any balance owing is three months after the end of the taxation year.

D. If a corporation has foreign operations, it can determine its Canadian tax liabilities on the basis of financial statements prepared in the corporations functional currency.

3. For corporations, the filing deadline for tax returns is:

A. April 30.

B. the fiscal year end.

C. three months after the fiscal year end.

D. three months after the fiscal year end if the small business deduction is claimed, otherwise two months after the fiscal year end.

E. six months after the fiscal year end.

4. PS Swim Inc. has a year end of November 30. It is a small CCPC. For its 2018 taxation year, its income tax return is due on:

A. January 31, 2019.

B. February 28, 2019.

C. April 30, 2019.

D. May 31, 2019.

E. None of the above.

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