CRA does NOT allow taxpayers to estimate the useful lives of assets or depreciation rates.
Correct Answer:
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Q31: Once an asset is fully depreciated no
Q35: The Canada Revenue Agency does NOT require
Q36: The units-of-production method is ideal for equipment
Q37: In the straight-line method of depreciation, the
Q38: The diminishing-balance method will yield a higher
Q41: Ordinary repairs are costs to maintain the
Q42: Under CRA, depreciation expense is NOT optional
Q43: The first step in recording a disposal
Q44: A long-lived asset must be fully depreciated
Q45: The cost of natural resources is NOT
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