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Nezavi [6.7K]
3 years ago
9

What are the features of a tax system?

Business
1 answer:
Jobisdone [24]3 years ago
8 0
A good tax system should meet 5 basic conditions: Fairness, adequacy, simplicity, transparency & administrative ease. Hope this helps you! :)
You might be interested in
Which of the following statement is not true about derivative contracts?
8090 [49]

Answer:

a. A long position is a bet that the number is going to fall while a short position is a bet that the number will rise in the future.

Explanation:

The derivative contract is a contract in which the contract is to be done between two or more parties regarding the value i.e. depend upon the financial asset i.e. underlying. It involves the bonds, commodities, etc

So according to the given options, the option a is correct as long position is a bet in which the number is to be decline while on the other hand in the short position the number would increase

4 0
3 years ago
A property is listed for sale at $235,000. A buyer's offer of $220,000 is rejected by the seller. Six months later, the seller r
AveGali [126]
Ok, so not too sure if this will answer you’re question, but let’s give it a go anyway. Approach this question with logic, though the original asking price was 235k it sold for 210k. Subsequently this would make the market value of the property 210k.

I believe the answer is A or $210,000
7 0
3 years ago
________ now command about 45 percent of all retail sales in the united states. factory outlets joint agreements franchises acqu
butalik [34]

___ now command about 45 percent of all retail sales in the United States.

Franchises

4 0
4 years ago
Mcewan Corporation uses a job-order costing system with a single plantwide predetermined overhead rate based on direct labor-hou
777dan777 [17]

Answer:

Selling price= $10,632

Explanation:

<u>First, we need to calculate the predetermined overhead rate:</u>

Predetermined manufacturing overhead rate= total estimated overhead costs for the period/ total amount of allocation base

Predetermined manufacturing overhead rate= (307,200/48,000) + 2.8

Predetermined manufacturing overhead rate= $9.2 per direct labor hour

Job X941:

Total direct labor-hours 300

Direct materials $ 600

Direct labor cost $ 5,500

<u>Now, we can determine the total cost of Job X941:</u>

Total cost= 600 + 5,500 + 300*9.2

Total cost= $8,860

<u>Finally, the selling price:</u>

Selling price= 8,860*1.2

Selling price= $10,632

7 0
4 years ago
At the end of the current year, Smith Software Inc. reported $27 million of net income and $420 million of retained earnings. Th
Afina-wow [57]

Answer:

Dividends paid is $2 millions

Explanation:

The change in retained earnings during the year can be calculated by taking the difference between the opening and the closing balance which is calculated as under:

Change in Retained Earnings = $420 million - $395 million = $25 millions

The change in retained earnings during the year is the share of Net income retained by the company which means the remainder amount which is not retained by the company is Dividend paid.

And

Dividends paid = $27 million Net Income - $25 million Earnings Retained

Dividends paid = $2 millions

3 0
3 years ago
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