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1 year ago

Economy is listed as one criteria of a good tax system. what is meant by economy in this context?

Business

1 answer:

stepladder [879]1 year ago

3 0

Economy requires that the system should minimize compliance and administration costs.

What is compliance in simple terms?

The Cambridge Dictionary defines compliance as follows: 'the act of obeying an order, rule, or request'. Wikipedia states that 'In preferred, compliance method conforming to a rule, which includes a specification, policy, fashionable or regulation.

What's the which means of compliance paintings?

Compliance work means the paintings to comply with the development situations inside the WAPC Conditional Approval. This can encompass entering into criminal agreements with Stakeholder organization(s) and the fee of prices, prices and contributions to those employer(s).

What is compliance example?

A pupil assisting any other scholar with their homework when asked. Buying an item due to the fact a sale man or woman encourages you to accomplish that. Supporting a friend due to the fact they ask you for a want. helping someone due to the fact they have got helped you within the past.

Learn more about compliance here:- brainly.com/question/14418789]

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You might be interested in

g An investor has invested $600,000 in a new rental property. Her estimated annual costs are $16,000 and annual revenues are $48

Tamiku [17]

Answer:

5.09%

Explanation:

The internal rate of return is the discount rate that equates the after tax cash flows from an investment to the amount invested.

IRR can be calculated using a financial calculator.

Cash flow in year 0 = $-600,000

Cash flow each year from year 1 to 29 = $48,000 - $16,000 = $32,000

Cash flow in year 30 = $32,000 + $500,000 = $532,000

IRR = 5.09%

To find the IRR using a financial calacutor:

1. Input the cash flow values by pressing the CF button. After inputting the value, press enter and the arrow facing a downward direction.

2. After inputting all the cash flows, press the IRR button and then press the compute button.

I hope my answer helps you

5 0

3 years ago

A newly issued bond has a maturity of 10 years and pays a 7.7% coupon rate (with coupon payments coming once annually). The bond

Sliva [168]

The convexity of the bond is 61.810 and the duration of the bond is 7.330 years.

<u>Explanation</u>:

A newly issued bond has a maturity of 10 years. It pays a 7.7% coupon rate. The coupon payments will receive each year. Using the coupon payments the year will be reduced.
The maturity year will get reduced. So the duration of the bond is approximately 7.330 years. If the bond is sold at par value the convexity can be calculated using the number of years.
So the convexity of the bond is 61.810.

3 0

3 years ago

Natalie operates on a pretty tight budget. She is a price-conscious shopper and usually buys store or generic brands to save mon

Llana [10]

Answer: The income effect

Explanation: The income effect refers to the effect on the purchasing power of the consumer when his or her income level changes.

In the given case, Natalie was price conscious and used to buy lower priced goods with the objective of saving money. When her income rises she starts buying expensive goods as her purchasing power increases with increase in income.

Hence from the above we can conclude that the correct option is A.

7 0

3 years ago

The following information pertains to Zion Company’s defined benefit pension plan:_______.

kobusy [5.1K]

Answer:

c. $45,000 liability

Explanation:

Fair Value of Plan Asset = Return on asset + employer contribution - Benefit paid

= $22,000 + $40,000 - $0

= $62,000

Projected Benefits Obligation = Service cost + interest cost

= $17,000 + $40,000

= $57,000

Pension asset / (liability) = Opening pension asset/ Liability + Plan asset - Projected Benefit Obligation - Amortization

= $2,000 + $62,000 - $57,000 - $52,000

= -$45,000

= $45000 Pension Liability

5 0

3 years ago

Gomez runs a small pottery firm. He hires one helper at $14,500 per year, pays annual rent of $7,500 for his shop, and spends $1

uysha [10]

Answer:

a). Accounting profits=$6,000

b). Economic profit=-$6,000

Explanation:

a). The accounting profits for Gomez's pottery firm can be expressed in the form;

Accounting profits-Total monetary revenue-Total monetary expenses

where;

Total monetary revenue=$86,000

Total monetary expenses=excludes opportunity cost=wages+rent+materials+equipment=(14,500+7,500+18,000+40,000)=$80,000

replacing;

Accounting profits=(86,000-80,000)=$6,000

Accounting profits=$6,000

b). Gomez's economic profit

Economic profit=Total revenue-total costs

where;

Total revenue=(86,000+5,000+6,000)=97,000

Total costs includes opportunity cost=(80,000+23,000)=103,000

replacing;

Economic profit=(97,000-103,000)=-$6,000

Economic profit=-$6,000

6 0

3 years ago