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Brut [27]
4 years ago
8

How do you find tax liability?

Business
1 answer:
antoniya [11.8K]4 years ago
8 0

Answer:

Find answer in the explanation below

Explanation:

Tax liability can be defined as the total amount of taxes an individual, corporation, company, etc owes a tax authority or service at a given period of time.

The Internal Revenue Service is responsible for the taxation and collection of taxes from individuals to multinationals.

tax liability can also simply be said to be the amount in taxes that is owed the government individuals downs to multinationals.

Tax liability can be found or derived from taxable incomes. This is started by deducting taxable income - tax deductions = gross tax liability

gross tax liabilty - tax credits = tax liability.

Cheers.

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If no harm results from an allegedly negligent act, there is no liability.
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The answer to your question is False
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3 years ago
Speedy motors LDT<br>identify the micro and the macro challenges of SM from the scenario​
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Based on the fact that Speedy Motors is in the automotive industry, some micro and macro challenges include:

  • Macro challenges - Government regulation and Economic growth.
  • Micro challenges - Lack of liquidity and Retaining good labor.

<h3>What are micro challenges?</h3>

Micro challenges are those that affect a company alone and not the economy.

Companies in the automobile industry face the micro challenge of having poor liquidity because cars might not be sold fast enough. They also have issues with retaining good labor which can help them remain competitive.

<h3>What are macro challenges?</h3>

These affect the economy and industry at large and so affect the company as well.

Some challenges here include government regulation that is aimed at reducing pollution. This will force an auto company to invest in more expensive equipment to comply.

If economic growth is poor, a car company will experience less sales as well.

In conclusion, there are several challenges affecting Speedy Motors.

Find out more on the macro perspective at brainly.com/question/3558688.

8 0
2 years ago
Companies often struggle to satisfy all of their social responsibilities to each of their stakeholder groups. Explain two
muminat

Customers and the employees

Explanation:

  • The customers are very important for the company to last long in the global market. The company should create products which will be of great value for the money they spent.
  • Employees are also very important as they provide service continuously for the development of the company. The success of the business depends on the employees.
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5 0
3 years ago
A company bought new heating system for $64,000 and was given a trade-in of $3,400 on an old heating system, so the company paid
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Answer:

$64,000

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The Cost price of the item Acquired is measured at fair value. When the Fair Value of Both the Asset Acquired and Asset given up can be determined reliably, the fair value of the asset given up will be used. Unless, the fair value of the asset acquired is more evident, that value may be used.

<u>Measurement of New Heating System :</u>

Cash                           $60,600

Add Trade In Value      $3,400

Total                           $64,000

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Less water to be evaporated <span />
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