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2 years ago

Using the legend provided, classify each of the following statements: Legend A = Tax avoidance E = Tax evasion N = Neither

Business

1 answer:

11111nata11111 [884]2 years ago

8 0

Answer:

A, A, E, E, E.

Explanation:

Tax evasion is an illegal activity in which a person or entity deliberately avoids paying a true tax liability. Those caught evading taxes are generally subject to criminal charges and substantial penalties.

Tax avoidance is the legal usage of the tax regime in a single territory to one's own advantage to reduce the amount of tax that is payable by means that are within the law. Tax sheltering is very similar, although unlike tax avoidance tax sheltering is not necessarily legal.

Sue writes a $707 check for a charitable contribution on December 28, 2013, but does not mail the check to the charitable organization until January 10, 2014. She takes a deduction in 2013. A - Tax Evasion

Sam decides not to report interest income from a bank because the amount is only $19.75. A - Tax Evasion

Harry pays property taxes on his home in December 2013 rather than waiting until February 2014. - E - Tax Avoidance.

Variet switches her investments from taxable corporate bonds to tax-exempt municipal bonds. E - Tax Avoidance.

Mel encourages his mother to save most of her Social Security benefits so that he will be able to claim her as a dependent. E - Tax Avoidance.

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Founders should be wary of crowdfunding sites like Kickstarter, because these efforts require founders to give up large ownershi

Westkost [7]

Answer:

B. False

Explanation:

As the name suggests that crowdfunding refers to the funding for a project by having a small amount from the public at large in an internet

Since in the question it is mentioned that the founders should put efforts for giving the high stake of ownership with respect to high contributors before raising the funds to launch a product in the market

But this above requirement should not be necessary

Therefore the given statement is false

5 0

3 years ago

. Describe an example of a company that manufactures a product.

daser333 [38]

There are a huge range of companies that produce a huge range of products, some examples of these are;
Apple= iPod, iPhone, iPad, iMac, Macbook.
Samsung= Phones, Televisions, Laptops
Ford= Cars, Vans etc.
Rolex= Watches
Ralph Lauren= Men, Women and Children's clothes and accessories, Home and pet accessories.
Hope this helps and is what you were looking for

5 0

3 years ago

West County Bank agrees to lend Drake Builders Company $400,000 on January 1. Drake Builders Company signs a $400,000, 6%, 6-mon

viva [34]

Answer:

The answer is b.Cash ,000 Notes Payable ,000

Explanation:

The exact entry Drake Builders Company has to record in its accounting book for the proceeds received from the issuance of the note is:

1st January

Dr Cash 400,000

Cr Note Payable 400,000

As at the time the note is issued, no interest expenses has been incurred, all the answer with Interest expenses can be eliminated.

In fact, interest expenses is only incurred and accrued during the lifetime of the note, based on the number of days the note is hold; that is, from the day the fund is lend out to Drake Builders Company; not on the day of issuance.

6 0

3 years ago

Entrepreneurship can be very challenging. Which is not a typical challenge of being an entrepreneur?

lord [1]

Answer:

<u>Financial reward</u> is not a typical challenge

Explanation:

3 0

3 years ago

A firm commitment arrangement with an investment banker occurs when the: issue is solidly accepted in the market as evidenced by

Elina [12.6K]

Answer:

A firm commitment arrangement with an investment banker occurs when an investment banker buys the securities for less than the offering price and accepts the risk of not being able to sell them.

The correct option is B.

Explanation:

A firm commitment arrangement happens when an investment banker buys the securities for less than the offering price and accepts the risk of not being able to sell them.

However, the issuer receives a little less money than the offering price but he gets a specific amount for all the security being issued. The risk rests completely on the investment banker.

Therefore, the correct option is B.

6 0

2 years ago