List three reserves that can be deducted in the determination of net business income.
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Q6: Both employees and self-employed individuals can deduct
Q7: Both GAAP and income tax legislation require
Q8: The ability to use a reserve for
Q9: Section 18 of the Income Tax Act
Q10: What is a reserve? Explain briefly the
Q12: For tax purposes, the sale of inventories
Q13: Describe the tax rules that apply to
Q14: Describe the alternative methods of inventory valuation
Q15: ITA 67 indicates that no deduction is
Q16: Assets can be acquired for use in
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