Under the income tax system, neither capital expenditures nor amortization/depreciation can be deducted when income for tax

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Under the income tax system, neither capital expenditures nor amortization/depreciation can be deducted when income for tax purposes is being calculated. The same system imposes an arbitrary and uniform method of cost allocation based on the type of asset used. Explain the reason for this significant departure from generally accepted accounting principles in arriving at income for tax purposes.
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Canadian Income Taxation Planning And Decision Making

ISBN: 9781259094330

17th Edition 2014-2015 Version

Authors: Joan Kitunen, William Buckwold

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