Question: Can you please answer these four multiple choice questions? Open with D Question 3 2 pts Mr Smith purchased an unlimited life franchise (arm's length
Can you please answer these four multiple choice questions?


Open with D Question 3 2 pts Mr Smith purchased an unlimited life franchise (arm's length transaction) at a cost of $100,000 during 2019. The maximum tax deduction related to the franchise for the taxation year ending December 31, 2019 is: O $7,500 $5,000 $2,500 O $37,500 D Question 4 2 pts . Bob is employed by a national real estate company and earns commission income. Mary is an independent real estate broker and earns commission income. Both maintain an office in their homes as a principal location of work. Which of the following statements is false regarding the tax treatment of their incomes from real estate sales for 2019? Mary and Bob can claim CCA on their computers. Mary can incur a non-capital loss, but Bob cannot. Mary and Bob can deduct a portion of their property tax and house insurance Mary can deduct a portion of her home mortgage interest, but Bob cannot.D Question 1 Which of the following statement is false when it comes to harmonized Sales Tax HST? O imported goods are exempted from GST/HST since they are an exempted supplies When you sale a used residential property there is no GST/HST on the sale since it is an exempted supply O Rental of a residential premises results in no GST/HST on the rent since it is an exempted supply O Exported good and services are subjected to a tax at 0% resulting in no GST/HST since they are zero rated supplies. D Question 2 . Which one of the following items is DEDUCTIBLE in computing the income a corporation under Division B of the Act? $15,000 spent on three social events in the taxation year for all employees at a particular location. $11,000 of accrued legal fees for a pending law suit. The accrual is an estimate because no work has been done to date by the lawyers. $4,000 of donation to registered charities made for no business reason. $1,500 for golf club membership dues for employees
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