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4 years ago

The following events result in a tax. Which is an example of a direct tax?

Business

1 answer:

Komok [63]4 years ago

5 0

Answer:

Javier owes money to the federal government based on his earnings.

Explanation:

Direct taxes are levied directly on the income of an individual or a business. Javier pays income tax on his earnings which is classified as a direct tax. Other examples of direct taxes include corporate tax and property tax.

All other options are examples of indirect tax as they are being levied on goods and services. Such taxes are usually included in the price. For e.g. General sales tax and value added tax.

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Wu Production Company, which uses activity-based budgeting, is in the process of preparing a manufacturing overhead budget. Whic

creativ13 [48]

Answer:

Option which would likely appear on that budget will be:

Batch level costs: production setup.

Explanation:

Here the company uses activity based budgeting is a management accounting tool which new year budget is only seen by not considering the previous year records.

Activity based budgeting which is a budgeting method in which firstly the overhead costs are being calculated and the the budgets gets created.

Batch-level cost is a cost which is not associated with any given specific individual units but is associated with a group of units.

For example, to set up a production run the cost incurred is associated with the batch of goods that are produced subsequently.

Another example can be be procurement costs. The expenses associated with the procurement costs include the ordering of direct materials, paying suppliers and receiving goods.

Since all of the expenses are related to the orders placed numbers, they must be allocated not to an individual product but to group of unit.

6 0

3 years ago

Help!!

11Alexandr11 [23.1K]

Answer:

-Checking accounts almost never generate interest.

-It's much easier to spend money from a checking account.

have a nice day!

4 0

3 years ago

Transactions that affect earnings do not necessarily affect cash.Identify the effect, if any, that each of the following transac

xeze [42]

Answer:

Effects of Transactions on Cash and Net Income:

Cash Net Income

(a) Purchased $104 of supplies for cash. -$104 $0

(b) Recorded an adjusting entry to record use

of $40 of the above supplies. $0 -$40

(d) Received $995 from customers in payment

of their accounts. $995 $0

(e) Purchased capital asset for cash, $2,635. -$2,635 $0

(f) Recorded depreciation of building for period

used, $710. $0 -$710

Explanation:

a) Data and Analysis:

a. Supplies $104 Cash $104

b. Supplies Expense $40 Supplies $40

c. Accounts receivable $1,432 Sales revenue $1,432

d. Cash $995 Accounts receivable $995

e. Capital asset $2,635 Cash $2,635

f. Depreciation Expense $710 Accumulated Depreciation $710

b) Only transactions that affect Cash have cash effects. Transactions that affect net income are either revenue or expenses. All other transactions that do not affect cash or net income are analyzed according to their basic effect on the accounting equation of assets = liabilities + equity.

3 0

3 years ago

In the circular flow model of the market system, households’ major role is to Multiple Choice buy both products and resources. s

STALIN [3.7K]

Answer:

Explanation:

the diagram of circular flow, shows the graphical representation of the exchange of goods, services and money between two parties as are families and businesses, where families exchanged money for goods and services and the companies through these monies that they receive to acquire factors of production to provide to the families.

5 0

3 years ago

Which of the following is not an overall objective of the auditor in the audit of revenues

adoni [48]

Answer: d

Explanation:

8 0

3 years ago