Answer:
1. Some strategies used to prepare filing taxes each year could include keeping each receipt knowing exactly what you spend, along with a filing system to sort out each piece of information needed for filing taxes with creating new folders and subfolders within.
2.They help pay for roads and other government projects.
3.Personal financial planning method of planning, financing, and investing activities, the taxes help us in meeting our goals and desires. Taxation affects the planning as it created a need and demand for money at the time of retirement. As proper planning is influenced by the taxes and they help to decide more clearly the person's finances and things you want. Hence they help in planning cautiously and adequately.
4. Four types of taxes that you can pay are the State Withholding Tax, a Federal Withholding Tax, a Property Tax, and a Sales Tax. Both withholding taxes are withheld from your paycheck going into state officials and federal officials. Property Taxes are charged against any personal property that you own, and Sales Tax is what you pay on any purchases that you buy, each price varying depending on what state or country you're in.
5. Challenges Faced By people When Filing Their Income Tax Returns:
Failure to enter the correct details.
Incorrect computation income.
Mismatch of important details.
When the employer does not give HRA benefits.
Failure to calculate some deductions which can be claimed.
Answer: True
Explanation:
Changing personnel responsibilities might in one way or the other enhance information risks increasing the probability of disruption and unauthorized access to information system in an organization.
Answer:
$73,000
Explanation:
Equipment net book value (NBV) = $80,000 - $60,000 = $20,000
Loss on sale of equipment = NBV - Sales proceed = $20,000 - $17,000 = $3,000
Net operating cash flows for 2019 = Net income - Loss on sale of equipment = $76,000 - $3,000 = $73,000
Answer:
Project 1, 2 and 3 will be selected
Total NPV of these projects will be $2,190,000
Explanation:
Availability of capital = 1 million
Minimum 2 projects should be selected
Project 2 and 4 cannot be selected together.
Value of project = NPV / Cost
P1 = 720,000 / 300,000 = 2.4
P2 = 780,000 / 260,000 = 3
P3 = 690,000 / 215,000 = 3.2
P4 = 700,000 / 240,000 = 2.9
P5 = 510,000 / 295,000 = 1.7
Answer: See explanation
Explanation:
a. State and describe the concept that leads to "conflict of goals between a firm's managers and its shareholders. Give a modern day example of this concept, and discuss some potential solutions.
This is referred to as the agency problem. This brings about conflict of goals between the manager and the shareholders. An example is when the managers use the resources of the company for their own personal benefits or in a scenario whereby the managers fake the earnings so that the stock prices will rise temporarily.
b. State and describe the concept that states, "factors of production are somewhat immobile." Give an example with detail.
This is referred to as imperfect market theory. When transferring labor, capital or other resources, there are costs attached to the transfer and restrictions as well. .
