Yes.
Well, Canola oil is vegetable oil, but it will work just fine for the cake.
Sure can. All oils can usually be substituted for one another in most recipes. Corn oil, soybean oil (vegetable), and canola(rape seed) oils are all highly processed (chemically) synthetic oils. Olive oil, peanut oil and safflower oil are three natural mechanically processed oils which also act the same way as the above oils in recipes. Safflower oil most nearly has the same properties as canola (rape weed) oil.
No it will not taste the same.Yes. Canola oil is a type of vegetable oil.Depending on what you're making, canola oil can be substituted for vegetable oil. Canola oil is also healthier than vegetable oil and has no noticable taste differences.
Canola oil is generally considered a healthier oil, so that's probably a better choice for that reason alone. Both vegetable and canola oil have light tastes and shouldn't interfere with the taste of the baked goods. I think the only oil I can think of of the top of my head that you wouldn't want to use in most baked good recipes would be olive oil, because it has a heavier taste.
http://www.webmd.com/food-recipes/canola-oil
If you see "vegetable oil" on the bottle, it's usually canola--the least expensive, lightest-colored, most flavorless oil they can get their hands on. (And in this case, "most flavorless" is a good thing; there are times you don't want to taste the oil, like if you're making brownies.) Canola oil is pressed from tiny canola seeds produced by beautiful yellow flowering plants of the Brassica family. It can be used in any recipe calling for vegetable oil. Cabbages and cauliflower are also part of the same botanical family! Canola was bred naturally from its parent rapeseed in the early 1970s. Canola, however, is NOT rapeseed - their nutritional profiles are very different. Along with olive oil, it is one of the most beneficial oils in its effect on good and bad cholesterol. Most of this info is from the Snopes article debunking the myth of Canola's toxicity. See the related link below. Olive oil is sometimes less costly and is definitely healthier for non-baking. Conola oil is better for baking than olive oil.
Yes. Canola oil is made from either Rapeseed or field mustard and is generally considered a vegetable oil anyway ;)
yes you can
Vegetable, peanut, or canola oils are the best (you can choose based on allergy / dietary restrictions, availablity, or affordability).
off top of me head, corn meal, flour, milk, eggs, fat, such as canola, corn or other vegetable oil a little sugar, baking powder, salt.
In baking I use canola. If i'm frying I use vegetable oil (which is soybean oil) or peanut oil because I feel they are less likely to become oxidized. I also use extra virgin olive oil, but that does not get cooked.