Cost of the asset$100,000
Life of the asset 5 years
Depreciation rate20%
Capital cost allowance rate 50%
Residual value of the asset nil
Income tax rate 50%
-In order to arrive at the profit for the year on the statement of income, you have to deduct the
_________________________ expense from the profit before taxes.

Question

Cost of the asset$100,000 
Life of the asset 5 years 
Depreciation rate20% 
Capital cost allowance rate 50% 
Residual value of the asset nil 
Income tax rate 50%
-In order to arrive at the profit for the year on the statement of income, you have to deduct the
 _________________________ expense from the profit before taxes.

Quizplus · Accepted Answer

The Answer of Cost of the asset$100,000 
Life of the asset 5 years 
Depreciation rate20% 
Capital cost allowance rate 50% 
Residual value of the asset nil 
Income tax rate 50%
-In order to arrive at the profit for the year on the statement of income, you have to deduct the
 _________________________ expense from the profit before taxes.

Cost of the Asset$100,000