Question

QUESTION 6
George recently paid $ 50.00 to renew his driver's license. This payment is considered a tax.
   True
   False

QUESTION 7
Because the United States District Court knows a broader set of cases, decisions of the United States District Court may be considered to have a more authoritative weight than the United States Federal Claims Court.
   True
   False

QUESTION 8
Corporations are required to file a tax return only if their taxable income is greater than:

a-$ 0

b-$ 1,000.

c-$ 600.

d-$ 750.

e-None of those.
  
QUESTION 9
The future value can be calculated as Future Value = Present Value / (1 + r) n.
   True
   False

QUESTION 10
The conversion strategy takes advantage of the fact that tax rates vary according to different activities.
   True
   False

Answer 1

Question 6 :

Answer : False

Payments for renewal of Drivers licence, pets licence etc. are considered fees and not as Taxes and they are not deductable for taxes since the are for personal use.

Question 7 :

Answer : False

United States District court and United States Federal Claims Court are at the same level when considering their powers. United States Federal Claims Court only hears special cases relating to it's jurisdiction. In both courts if a perrson is not satisfied with the decision he can appeal to a higher court of law .

Question 8 :

Answer : option 'a' - $ 0

All resident corporations (except tax-exempt Crown corporations, Hutterite colonies and registered charities) have to file a corporation income tax (T2) return every tax year even if there is no tax payable. This includes:

• non-profit organizations
• tax-exempt corporations
• inactive corporations

Question 9 :

Answer : False

The future value can be calculated as Future Value = Present Value X

Question 10 :

Answer : False

Conversion strategy refers to tactics that encourage customers to take specific action, “converting” a person browsing your website into a purchaser of your product or service. It doesn't take advantage of the fact that tax rates vary according to different activities. It does take advantage of Employee training and development programs, high customer service standards and differing pricing strategies.