All categories

3 years ago

Select the tax that matches each of the following descriptions regarding the nature and purpose of the tax.

Business

1 answer:

s2008m [1.1K]3 years ago

7 0

Answer:

Explanation:

There are various terms which are explained below:

a. Franchise taxes: The franchise tax is the tax that is imposed while doing the same business in different states.

b. Custom duties: The customs duties are levied when the import of certain foreign goods takes place

c. Occupational fee: For doing the business, the license is necessary so that the business can be started

d. Severance tax: This tax is imposed on natural resources only.

e. Export duties: These duties are levied when certain commodities are exported

So, the categorization is shown below:

a. a tax is based on the right to do business in the state = Franchise taxes

b. a tax is based on the importation of a certain foreign goods. = Custom duties

c. a tax is applicable to trades or businesses, serving as a license. =- Occupational fees

d. a tax is based on the notion of a state's interest in its natural resources. = Severance tax

e. a tax is imposed on the export of certain commodities = export duties

You might be interested in

A project has an initial cost of $2,400. The cash inflows are $0, $1,600, $1,100, and $700 over the next four years, respectivel

lesya692 [45]

Answer:

It will take 2.73 years to cover the initial investment.

Explanation:

<u>The payback period is the time required to cover the initial investment:</u>

Year 1= 0 - 2,400= -2,400

Year 2= 1,600 - 2,400= -800

Year 3= 1,100 - 800= $300

<u>To be more accurate:</u>

(800/1,100)= 0.73

It will take 2.73 years to cover the initial investment.

7 0

3 years ago

Klivinich is a manufacturer of oral hygiene products. In addition to manufacturing and selling oral hygiene products, Klivinich

olga55 [171]

Answer:

Option C Achieve a competitive advantage

Explanation:

The reason is that anything brings an upperhand over the other competitors is competitive advantage. This might be due to product uniqueness or due to customer after sales services or anything in our product that the customer values more than the feature of other competitors. In this scenario, the advice of the K Company is valued by the customers and thats the reason they prefer its products because they give valuable advice with their products.

7 0

3 years ago

A State A consumer was in a traffic accident with a State B driver. The State A consumer’s car burst into flames, causing horrif

kupik [55]

Answer: The correct answer is B. Yes, because the State B driver's claim is a proper cross-claim and is within the court's supplemental jurisdiction.

Explanation:

Option B is correct because the State B driver can assert his tort claim against the State B manufacturer. The driver's claim is a proper crossclaim and this is because it arises from the same occurrence as with State A consumer's claim.

4 0

3 years ago

Taxes represent __________ of the business. Multiple Choice an equity liability a cash inflow a cash outflow an accounts receiva

Eduardwww [97]

The taxes that are being paid by a business firm represents: C. a cash outflow.

Taxation can be defined as the involuntary and compulsory fees that are usually levied on individuals or business firms (entities) by the government, so as to generate revenues which are used in funding public institutions and activities.

Basically, these taxes that are being paid by individuals or business firms (entities) is considered as a cash outflow because it represents money that are flowing out of their accounts.

In conclusion, an amount of money that is flowing out of an account such as taxes is referred to as a cash outflow.

5 0

2 years ago

Fred's Paper Shop frequently buys paper from Online Office Supplies, Inc. Online Office Supplies and Fred's Paper Shop decide to

madam [21]

Answer:

likelihood that disputes will arise under their contract is reduced.

Explanation:

One of the advantages of entering into a partnering agreement is that the likelihood that disputes will arise under their contract is reduced. This is mainly due to the fact that the agreed upon contract contains all the rules and regulations that both entities have agreed to follow. Therefore if there is any difference in decision the contract can be brought up and must be followed.

3 0

3 years ago