The correct alternative regarding tax revenue:
<u>B-Personal income tax is currently the largest source of government revenue in South Africa.</u>
<u>Direct </u><u>Taxes</u>
- it is levied on earnings and activities conducted.
- the burden of tax cannot be shifted in case of direct tax.
- it is paid directly by individual concerned.
- it is paid after the income reaches in the hands of the taxpayer
- Tax collection is difficult.
- instance income tax, wealth tax etc.
<u>Indirect </u><u>Taxes</u>
- it is levied on product or services.
- the burden of tax shifted for indirect taxes
- It is paid by way of one man or woman however he recovers the same from another person i.e. person who actually bear the tax ultimate consumer.
- it is paid before goods/service reaches the taxpayer.
- Tax collection is exceptionally easier
- Example GST, excise duty custom duty sale tax carrier tax
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Answer: An increase in government spending
Explanation:
Currency appreciation is an increase in the worth of one currency against the value of another currency. Due to the appreciation of a currency, imports get cheaper.
In a small open economy, the appreciation of the real exchange rate can be caused by an increase in government spending as this puts pressure on domestic currency to appreciate, which leads to current account deterioration.
Answer:
Explained.
Explanation:
Joe being the lead accountant for his company so, he prepares the financial reports.
Joe made mistakes in financial report making his manager angry because the resources at the Joe's company are limited and financial report that are timely and reliable would have helped the company to attract some financial investment.
Answer:
The correct answer is letter "A": True.
Explanation:
Digitizing photographs complicated printing since it pushed printers' manufacturers to invest more in their development teams to create high-quality image printing devices. This was originated as a result of the spread of the paste-up process which allowed individuals to attach almost any image to their documents for printing purposes.
A broad principle that requires identifying the activities of a business with specific time periods such as months, quarters, or years is the <u>Time period principle.</u>
The time period principle- Financial results and other material business activities should be reported over a consistent time period, such as a month, week, day, etc., in accordance with the time period concept. Depending on the frequency of the chosen time period, the firm must then adhere to a distinct set of regulations for each financial statement in accordance with US Generally Accepted Accounting Principles.
Any company's financial statements can be thought of as a snapshot in time that reveals both the company's history and its current status. That's why it's crucial to disclose to readers the time frame in which the financial statements were generated in accordance with the time period concept.
In its broadest sense, the time period principle holds that any enterprise may conveniently categorize its financial operations into discrete time intervals. That is to say, all cash inflows and outflows may be neatly categorised into separate and sequential accounting periods.
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