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Which of the following statements with respect to terminal losses is NOT correct? Terminal losses are deducted from the ending UCC to leave a balance in the Class of nil

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Which of the following statements with respect to terminal losses is NOT correct?



		
Terminal losses are deducted from the ending UCC to leave a balance in the Class of nil.





		
A terminal loss occurs when there are no assets left in the Class and there is a negative balance in the Class at the end of the year.

		
If assets remain in a CCA Class, there will not be a terminal loss in that Class.







		
Terminal losses are deducted in full in the determination of Net Business Income.