Corporate Taxes T2

Self Assessment Evaluation of your Corporate Taxes T2 Knowledge


With few exceptions, all corporations operating in Canada, even if they have no income or are inactive, are required to file a corporate tax return. You can become a tax professional with this skill.
  • This quiz is intended as a self assessment to test your knowledge and areas of improvement. There are 10 questions MCQ’s (multiple choice questions)
  • Choose your answer to the question and click "Next" to see how you did.
  • Each correct answer will give you a point and you will be able to see your percentage scored at the end.

When you have completed the test, click 'See Result' to see your results. Good luck!

Self Evaluation of Your Corporate Taxes T2 Knowledge

At the end of Quiz, Get Results, instantly!

1 / 10

A business, sold an equipment for $75,000, with a book value of $100,000 and accumulated depreciation of $70,000. What is the accounting gain/loss on the sale of the equipment?

2 / 10

All of the following items are considered part of the owner's equity, EXCEPT:

3 / 10

Which of the following statements would not accurately describe situations related to active business income?

4 / 10

A corporation can earn the following basic types of income.

5 / 10

Which dividends are more taxed at lower rate when received by individuals?

6 / 10

Which of the following is a disadvantage of incorporating a business?

7 / 10

Which of the below is not a mandatory requirement to qualify for a corporation to be a CCPC?

8 / 10

Which of the below corporations must file a T2 tax return?

9 / 10

Specified investment business income does not include.

10 / 10

Which schedule is mandatory when doing First Year of filing after incorporation?

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