Is their any way you can put a picture
Answer:
a.
Primary sources represent the law itself as interpreted by the statutory, administrative and judicial entities of the government while secondary sources can be generally defined as interpretations of the law done by non-governmental entities.
b.
The type of authority which professional tax research conclusions should be based on are the primary sources.
Explanation:
a.
Primary sources of tax information are documents that are provided directly by an authority usually the government. Primary sources usually carry heavy weight especially when there is a conflict in the understanding of a federal tax law. These sources are often used by law practitioners as a basis in understanding cases of a similar nature. Some examples of primary sources of tax information include; internal revenue code, final and temporary regulations, non-codified federal tax statutes, and judicial decisions on tax matters. In general primary sources represent the law itself as interpreted by the statutory, administrative and judicial entities of the government. They can be used in a case where a tax payer in arguing his or her case about their tax position in a court of law.
Secondary sources of tax information are documents that are provided by information vendors who provide research services, legal analysis and tax professionals. These sources usually rely on the professionalism and experience of individuals who have gained a reputation on tax law for advice and direction. Some examples of secondary sources include; legal periodicals like academic journals, legal analysts, scholars and tax law reporters. Secondary sources can be generally defined as interpretations of the law done by non-governmental entities.
b.
Professional research is usually done to enable one advance in his/her career in order to gain acceptance as an expert in that particular field. For one to join the ranks of a professional, they first need to prove their mastery of the knowledge in that particular profession. In our case, one needs to be aware of the law as provided by an authority. This means that one needs to argue his/her case in reference to the primary sources since these sources carry more weight in terms of understanding and experience as opposed to secondary sources that represent personal views that might be susceptible to bias. On this note, the type of authority which professional tax research conclusions should be based on are the primary sources.
Answer:
$696400
Explanation:
The values given are as follows:
Tax rate= 21%, 21/100= 0.21
Equity cost= 11.1%
Value of Unlevered Firm= $625,000
Rate at which Tantum can borrow=6.7%, 6.7/100=0.067
Amount of value if the company ends up borrowing=$340,000
Value of levered Firm =?
The formular for finding the value of levered Firm is:
Value of Unlevered Firm + Tax Rate * Debt
=$625,000 + 0.21 *$340,000
= $625,000 + $ 71,400
= $ 696,400
Thus, the value of levered firm is $696,400.
Answer:
The answer is C. Kristin, Lindsey, and Mobile
Explanation:
In partnership, there is no distinct difference between the partners(Kristin and Lindsey) and their firm(Mobile Devise). Any contract either of the partners signs on behalf of Mobile Devise is binding on the partners and their firm.
Also in partnership, their liabilities are unlimited. Whatever loss Mobile devise incurs will be their loss unlike in corporation firms.