In computing net business income for income tax purposes, which of the following statements is...
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In computing net business income for income tax purposes, which of the following statements is INCORRECT? Question Answer a Income tax paid is not allowed as a business deduction. b Depreciation is not allowed as a business deduction. c Capital cost allowance is not allowed as a business deduction. d An arbitrary reserve is not allowed as a business deduction.
In computing net business income for income tax purposes, which of the following statements is INCORRECT?
Question Answer
a
Income tax paid is not allowed as a business deduction.
b
Depreciation is not allowed as a business deduction.
c
Capital cost allowance is not allowed as a business deduction.
d
An arbitrary reserve is not allowed as a business deduction.
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