Question: A Ltd. and B Ltd. both operate separate active businesses. Recently they created a joint venture to complete a single construction project. The joint venture

A Ltd. and B Ltd. both operate separate active businesses. Recently they created a joint venture to complete a single construction project. The joint venture earned $400,000 in the current year before capital cost allowance. A Ltd. has substantial business profits from its own operations but B Ltd. has losses accumulated and carried forward. A Ltd. can claim CCA on its share of depreciable property and B Ltd. can choose not to claim CCA. Is this statement true or false?

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