Online Access Free HumberCollege.PREX-1060A.v2024-11-29.q39 Practice Test (Page 9)

PREX-1060A Exam Question 36

Which of the following statements about economic development offices is NOT correct?

A.Economic development offices can provide you with real property information regarding tax assessments and how to appeal your real estate taxes.

B.Economic development offices have important resources for those seeking suitable commercial sites for business operations.

C.Economic development offices can help guide development applications through municipal processes and streamline the approvals process for companies unfamiliar with regulatory requirements.

D.Economic development offices provide background information on local, provincial, and federal research and development incentives.

PREX-1060A Exam Question 37

The balance sheet of a business helps investors understand its stability and assess financial risk. A balance sheet includes details about all of the following, EXCEPT:

A.Shareholder's equity

B.Liabilities

C.Assets

D.Net operating income

PREX-1060A Exam Question 38

Which of the following is NOT relevant information a salesperson must verify when representing a landlord who is planning to lease their industrial property?

A.The salesperson must verify the previous tenant's lease rates and terms.

B.The salesperson must verify whether the tenant's intended use for the industrial property is permitted under the zoning bylaw.

C.The salesperson must verify the rates and terms of lease for the property.

D.The salesperson must verify the zoning information for the industrial property.

PREX-1060A Exam Question 39

When a farm is sold, there are exemptions to the payment of harmonized sales tax (HST). In which of the following circumstances is a farmer responsible to pay HST to the Canada Revenue Agency (CRA)?

A.The farmer uses a smaller portion of the farm for a residence.

B.The farmer sells the farm to a relative.

C.The farm has been used for personal use.

D.The farm is sold to a corporation and the HST is included in the selling price.

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PREX-1060A Exam Question 36

PREX-1060A Exam Question 37

PREX-1060A Exam Question 38

PREX-1060A Exam Question 39

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