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3 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]3 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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Robusta Coffee Importers sold 6 comma 000 units in October at a sales price of $ 35 per unit. The variable cost is $ 15 per unit

yanalaym [24]

Answer:

Operating Income= $110,000

Explanation:

Giving the following information:

Robusta Coffee Importers sold 6,000 units in October at a sales price of $35 per unit. The variable cost is $ 15 per unit. The monthly fixed costs are $10,000.

The operating income is the difference between the contribution margin and the fixed costs:

Contribution margin= selling price - unitary variable cost

Operating income= Total contribution margin - fixed costs

OI= 6,000*(35 - 15) - 10,000= $110,000

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3 years ago

g You earn $40,221 at your job and must pay 11% of your income in taxes. You then decide to save 8% of your disposable income. H

Yanka [14]

Answer:

The amount left for consumption spending is $32,932.95

Explanation:

The amount left for consumption spending is known as disposable income or take-home pay less savings .The disposable income is the income left after taxes have been paid to relevant tax authority.The computation of amount left for consumption is done below:

Gross income $40,221

Tax at 11%(11%*$40,221) ($4424.31 )

Disposable income $35,796.69

Savings at 8% of disposable income

($35,796.69*8%) ($2,863.74)

Amount left for consumption spending $32,932.95

This is not mean that I have to spend this $32,932.95 during the month, there might some investments I want to my money on to yield more returns.

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3 years ago

Read 2 more answers

Ahmed Company purchases all merchandise on credit. It recently budgeted the following month-end accounts payable balances and me

Vitek1552 [10]

Answer:

1. Computation of Budgeted amount of Merchandise Purchases

Particulars June July August

Ending Accounts Payable $130,000 $300,000 $120,000

Payments on account $1,500,000 $1,400,000 $1,400,000

$1,630,000 $1,700,000 $1,520,000

Beginning Accounts Payable $150,000 $130,000 $300,000

Purchases $1,480,000 $1,570,000 $1,220,000

2. Computation of Budgeted amount of Cost of Goods Sold

Particulars June July August

Beginning inventory $260,000 $500,000 $300,000

Purchases $1,480,000 $1,570,000 $1,220,000

Cost of goods AFS $1,740,000 $2,070,000 $1,520,000

Ending Inventory $500,000 $300,000 $330,000

Cost of goods sold $1,240,000 $1,770,000 $1,190,000

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3 years ago

A method managers use to evaluate the resources at their disposal and manage or alter them to achieve competitive advantage is r

Sedbober [7]

Answer:

Resource View

Explanation:

A resource view or resource-based view is a strategic tool, hence its use by managers. It is bascially employed by management for the assessment of an organisation's strategic resources or assets in order to enhance the efficient and effective use of all available resources to maximize competitive advantage.

Some refer to the Resource Based View (RBV) as a managerial framework specifically employed to strategically maximize resource use for sustained advantage over competitors.

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3 years ago

Which risk is most prominent when buying an umbrella for the rainy season?

Neporo4naja [7]

Answer:

Explanation:

Due to the rainy season when considering to buy a umbrella the largest risk or concern is how well it will work or its performance.

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3 years ago