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lisov135 [29]
3 years ago
3

What common misconceptions about paying taxes exist? Check all that apply.

Business
2 answers:
Katarina [22]3 years ago
5 0

The answer is:

1. A person who is unable to pay taxes does not have to pay them.

If you unable to pay your taxes, the amount of payment that you have to pay this year would be accumulated to the tax payment next year.

2. A person who chooses not to pay taxes does not have to pay them.

Paying taxes is an obligation of all working citizens, not a right. We do not get to choose whether we have to pay taxes or not.

3. Simply forgetting to file taxes will not result in jail time.

Since there is no actual intend to not paying your taxes, simply forgetting it usually would only resulted in fines from the IRS.

Mumz [18]3 years ago
4 0
<span>These following are misconception about paying taxes:
-A person who chooses not to pay taxes does not have to pay them. 
</span><span>-Simply forgetting to file taxes will not result in jail time.
</span>Taxes must be payed and there are people who are exempted from it. Those people are the one with low salary.So those who are able to pay taxes should pay it in order to avoid being punished by the law.
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Quincy had no idea how consumers would respond to a survey about attitudes toward a program opening up space travel to private c
Grace [21]

Answer:

a survey with open-ended questions

Explanation:

Using a survey with open-ended questions will give Quincy's survey respondents the opportunity to give their opinions about opening up space travel to private citizens.

Consumers will also be able to give feedback on their experience with the survey and other valuable input as regards improvement of the program.

7 0
4 years ago
Has anybody taken this test before? What is the most financially dangerous way to pay for college?
GaryK [48]

Answer:

<u>well my dads a licensed student loan manager for UCB in CA and he said Federal Student Loans have FIXED INTEREST meaning no matter the change in other people loans your interest rate doesnt change. So it has to be credit cards.</u>

Explanation:

Also credit cards dont have fixed interest rates so say today you have an 8% interest rate and next month it changes to 12% thats because of the fixed rate so in the near future you'd end up paying more in credit card tax then student loans. And student loans payment are negotiable , payments can be somewhat reasonable as for credit cards co.'s they take out a payment either way without you having a say in monthly change until you pay the loan off.

In my personal opinion I think its credit cards.

3 0
3 years ago
b. Merchandise purchases were $53,000 and $86,000 for March and April, respectively. Typically, 20% of total purchases are paid
Evgen [1.6K]

Answer:

$58,740

Explanation:

The computation of the cash paid is shown below:

For March month

= March purchase × remaining percentage

= $53,000 × 80%

= $42,400

For April month

= April purchase × given percentage ×  after applying cash discount

= $86,000 × 20% × 95%

= $16,340

So, the total amount of cash paid would be

= $42,400 + $16,340

= $58,740

Simply we multiply the monthly percentage with their percentage criteria

6 0
4 years ago
Sandhill Company deducts insurance expense of $234000 for tax purposes in 2021, but the expense is not yet recognized for accoun
LenaWriter [7]

Answer:

$242,800

Explanation:

                                        Tax Base      Accounting Base   Temporary Difference

2021 Insurance Expense $234,000          0                       $234,000

This insurance expense will result in taxable temporary difference=$234,000*20%=$46,800

The journal entry will be;

Income Tax Expense        Dr.$46,800

Deferred Tax liability        Cr.$46,800

Therefore Income tax expense will be=$196,000+$46,800=$242,800

8 0
4 years ago
Patrick, who rear-ended Mary Jane's beloved sports car, is liable to Mary Jane under _____.
KatRina [158]

Answer:

Negligence

Explanation:

The concept of negligence says that there was an acceptable standard of normal behavior (driving safely) and someone's actions were <u>below that standard</u> (did not drive safely).

7 0
3 years ago
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