Which of the following assets is NOT eligible for capital cost allowance in the current year?
A) A delivery truck is purchased in December of the current year. The truck is not paid for until January of the following year.
B) An employee owns and uses a truck for employment duties during December. His pay for December is not received until January of the following year.
C) A delivery truck is leased during the year on a 3 year lease.
D) A delivery truck is purchased during the year on a 3 year financing term.
Correct Answer:
Verified
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