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RideAnS [48]
3 years ago
8

When people with lower incomes pay lower taxes, this represents the role of government called _____. supervisory body source of

public good reallocation of income entrepreneurship
Business
1 answer:
Vikki [24]3 years ago
3 0
The answer is reallocation of income
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A firm had after-tax income last year of $3.0 million. Its depreciation expenses were $0.6 million, and its total cash flow was
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5 0
2 years ago
Which of the following is not a payroll tax deduction?
Wittaler [7]

Answer:

The Correct Answer is B.

Sales tax.

Explanation:

Sales tax is the Tax imposed by the government body during the sale of the goods and services at a retail level.

While payroll tax is the tax which is imposed on the salary of the employees and this tax is imposed by the employer. payroll taxes are directly deducted from the salaries of the employees and directly paid to the internal revenue services by the employer.

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3 years ago
Statement on Standards for Tax Services No. 1 establishes as a basic principle of providing tax services that the CPA:a. Must ha
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Answer:

a. Must have a good faith belief that the tax return position will be accepted by the IRS.

Explanation:

Certified Public Accountant (CPA) is a term used to refer to the state title of approved accountants in the Uniform Certified Public Accountant Examination. The CPA allows these professionals to issue opinion statements in financial reports, following a few rules. For example, the Tax Services Standards Statement No. 1 states that a basic principle of the provision of tax services that the CPA has is to have a good faith belief that the tax return position will be accepted by the IRS.

3 0
3 years ago
2. What were the major industries involved in the development of the West, and how did these industries transform the western ec
Usimov [2.4K]

Answer:

1) Mining

2) Ranching

3) Commercial Farming

Explanation:

The miners who comes mostly from California and other areas fulfilled the demand for gold and silver in the East. They also contributed in extracting other minerals i.e. copper, zinc, iron ore, lead, and quartz, which were great for the industrial use.

The sheep and cattle ranchers played an important role too i.e. that they produced wool, meat, and leather to satisfy the demands of eastern manufacturers and the consumers.

The farmers contributed by making farming commercial. They sold their crops in home town and internationally which helped the economy to improve.  

6 0
3 years ago
Lucky started a new business last year. Since it was the first year of operation, the business purchased $10,000 in machinery an
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Answer:

The answer is: A) The new machinery can be depreciated using the same method or different method than the previously purchased machinery

Explanation:

Their is no rule that requires a business to always use the same depreciation method for the assets they purchase.

The most common depreciation methods include:

  • Straight-line.
  • Double declining balance.
  • Units of production.
  • Sum of years digits.

Depending on the asset a business may consider one depreciation method that better suits it, and another depreciation method for their other assets.

6 0
3 years ago
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