The capital cost of an asset includes a number of costs. Indicate which cost would NOT be considered part of the capital cost.A. Legal fees incurred to acquire the asset.B. Duties paid on the asset.C. Fire and theft insurance paid on the asset.D. Non-refundable provincial sales taxes paid on the asset.Which of the following statements regarding recapture is correct?A. Recapture is deductible in the calculation of business income.B. Recapture occurs when there is a negative UCC balance in a class, even if there are assets remaining in the class.C. Recapture occurs when there is a positive UCC balance in a class and there are no assets in the class.D. Recapture occurs when there is a positive UCC balance in a class, even if there are assets remaining in the class.In dealing with depreciable assets, accounting and tax material use different terms to refer to similar items. Of the following pairs of accounting and tax terms, which pair does not represent similar items?A. Net book value and undepreciated capital cost.B. Amortization expense and capital cost allowance.C. Acquisition cost and capital cost.D. Net book value and capital cost.
https://cheapcustompapers.org/wp-content/uploads/2021/05/cheap-custom-papers.png 0 0 ccpadmin https://cheapcustompapers.org/wp-content/uploads/2021/05/cheap-custom-papers.png ccpadmin2021-07-01 16:04:522021-08-06 05:30:15The capital cost of an asset includes a number of costs