Multiple Choice
Which of the following statements regarding the relationship between amortization and income taxes is true?
A) All capital assets have the same amortization rate.
B) The same amortization method must be used for income tax purposes and for the books.
C) Canada Revenue Agency specifies the maximum amortization rate (CCA rate) a taxpayer may use.
D) Most companies use straight-line amortization for income tax purposes.
Correct Answer:
Verified
Correct Answer:
Verified
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