Ontario Mortgage Agent Practice Exam

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Study for the Ontario Mortgage Agent Exam. Prepare with flashcards and multiple choice questions, each question includes hints and explanations. Get ready for your test!

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What does Box 61 on a T4A slip normally show?

  1. A) Payer's Social Security Number

  2. B) Payer's Business Number

  3. C) Payer's Bank Account Number

  4. D) Payer's Driver's License Number

The correct answer is: B) Payer's Business Number

Box 61 on a T4A slip normally shows the payer's business number. The other options are incorrect because A) A social security number is used for personal identification, while a T4A slip is used for reporting business income or expenses. B) A bank account number is used for financial transactions, not for tax reporting. C) A driver's license number is used for identification for the purpose of driving, not for tax reporting.

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