In a closed-fact problem, the main goal of tax research is to: find support for an action the taxpayer has already taken.
Explanation:
When filing a tax return, many people are medically supported. Strong tax research skills are even greater because of their complexity and application in tax law. The purpose of this chapter is to provide information and advice on tax compliance analysis as well as tax planning. In addition, the technique of tax analysis is quite similar to accounting and auditing.
The aim of tax research is to increase the profit or gains of the taxpayer. The aim is not to generate the minimum tax liability potential. Customers should determine the accuracy of tax returns or try to minimize possible IRS conflicts.
This difference of perspective — to optimize after-tax gains instead of reducing taxation — is particularly important when one considers that many tax planning techniques require such pre-tax income transfers, either in the form of additional expenditures, income avoidance or both.
Answer:
A) The GAAP statement is based on cost function rather than cost behavior.
Explanation:
Income statements that follow GAAP rules categorizes expenses based on their business function: product, selling or administrative.
While cost behavior categorizes costs based on how they influence a company's activities: variable, fixed and mixed. When a manager wants to measure the impact of any decision he/she makes, they need to use this type of categorization. For example, if fixed costs increase, what is the new break even point? If variable costs decrease, how is the marginal cost affected?
Complete question:
Joe, a human resources specialist for Jersey Office Supplies Co., rides along with the furniture delivery people to observe the problems they were encountering and what activities they were required to perform. Joe was performing a:
A. personality test
B. performance appraisal
C. BARS
D. job analysis
Answer:
Joe was performing a job analysis
Explanation:
Job analyzes are a set of protocols for defining the contents for the job and the features or criteria required for the execution of the tasks. Job analytics provide employers with knowledge that helps to recognize which personnel is ideally suited to particular work.
An example of a job analysis model might list tasks or activities of the job and determine each performance level. Within this way, the role of job analysis is critical. Many companies typically take the same generic approach without details on the task description. All workers are tested in a similar set of features or characteristics presuming that they are required for all work.
Answer: d) think at the margin.
Explanation:
A rational person is defined as some who makes decision with the intelligent thinking rather being emotional .This result usually results in sensible outcomes.
According to the Ten principles of Economics,it is supposed that a rational person tends to think intelligently and would prefer to make minute changes in the resources while taking decision so that optimal rate can be maintained and additional action can be further thought.
Other option are incorrect because purchasing items from smaller organization, sunk rate and average cost product equalizing with the price is not the decision ability of a rational person
Answer:
$22,000
Explanation:
Given that
1st house rented = 10,000
2nd house estimated rent = 12,000
Therefore,
The two houses would contribute
= 10,000 + 12000
= $22,000
Note: Rent is considered as consumption and as a result, rent is added into the GDP. Also, in GDP estimation, imputed rent which is the amount a house owner is willing to rent a house away for if he decides to is calculated as part of the GDP.
