1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
harkovskaia [24]
3 years ago
5

The methods that it uses to regulate business practices, defines how companies conduct business transactions, specifies the righ

ts and obligations of those engaged in business transactions, and spells out the methods of legal redress to those who believed they have been wrong are aspects of a country's _____.
Business
1 answer:
kodGreya [7K]3 years ago
7 0

Answer:

legal system

Explanation:

There are five basic legal systems used in different countries around the world: civil law, common law, customary law, religious law, and mixed legal systems.

Generally business operations are included under common law (US and UK + former colonies) or civil law (based on Roman law used in most of Europe and Latin America), at least in western countries. This includes both North and South America, western European countries, and Australia + NZ.

Personally I don't know about the rest of the non western countries.  

You might be interested in
rony is the managing director of a fabric manufacturing company in order to limit the profit of the company and , therefore , th
77julia77 [94]

Rony as the managing director of a fabric manufacturing company enjoys an employee benefit called <u>perquisites</u><u> (D)</u>.

Let's discuss each employee benefit option we have:

Novated lease is an employee benefit that allows an employer pays for its employee car lease and car runnit costs out of its employee's salary package. An employee will choose a car he wants and a novated lease arrangement is set up between the employee, employeer, and car agent.  The employer then will pay directly to the car agent from the employee's salary. The employee may save tax and running costs using this kind of leasing.

Fiscal Incidence is the combined overall economic impact of both government taxation and expenditure on the real economic income of individuals. Fiscal incidence happens when the econonmic incidence of taxation is combined with the economic incidence of government expenditure. Fiscal incidence is the overall increase or decrease in welfare that individual enjoys from the state's taxing and spending policies.

Swaps is a derivative contract which stated that the two parties will exchange the cash flows or liabilities from two different financial instruments. Swaps usually are based on a notional principal amount. The most common kind of swap is an interest rate swap.

Perquisites or fringe benefits are benefits an employee received over and above his standard salary. Some of these components are taxed separately and someother are tax-exempted. Perquisites may be classified into 3 different types:

  1. Taxable perquisites
  2. Tax-exempted perquisites
  3. Perquisites taxable only by employee

By offering perquisites to its employee, a company may increase its employee productivity, loyalty and retention. Prequisites could also be used as an attraction for top talent.

Learn more about Employee Benefit here: brainly.com/question/12143528

#SPJ4

Complete Question:

Rony is the managing director of a fabric manufacturing company. In order to limit the profit of the company and therefore, the txes on the business the management pays a hefty amount to Rony as year-end bonuses. The company also pays for his family cavations and foreign trips. The benefits enjoyed by Rony are called ____

a. Novated leases

b. Fiscal incidences

c. Swaps

d. Perquisites

6 0
8 months ago
Curtis purchased inventory on December 1, 2020. Payment of 250,000 stickles was to be made in sixty days. Also on December 1, Cu
jek_recluse [69]

Answer: $0

Explanation:

Forward contracts get their value from the cost and on December 1, there was no cost to Curtis as he Curtis had just signed the contract.

This means that the amount that should be recorded for the Forward Contract should be $0. Even though the contract is valued at $0, it will still need to be credited against the amount to be received to at least recognize that a forward contract was entered into.

3 0
2 years ago
Correll Company, which operates a mail-order clothing business, is physically located in State L. This year, the firm shipped $1
Wewaii [24]

Answer:

Correll Company

a. Yes State R residents who purchased Firm L (out-of-state) merchandise owe use tax on their purchases.

b. State R would collect $1,080,000 additional revenue ($18 million * 6%) if Correll was required to collect the use tax at the point of sale and then remit the tax collected to State R.

Explanation:

a) Data and Calculations:

Cost of merchandise to customers in State R = $18 million

State R's sales and use tax on the purchase and consumption of retail goods within the state = 6%

Amount that Correll could collect for State R = $1,080,000 ($18 million * 6%)

b) Note that Correll (Firm L) collecting the State R use tax does not affect State R residents' legal liability to pay the use tax.  Unfortunately, not many people actually remit their self-assessed use tax.

6 0
3 years ago
What is TRUE about countries that use a regressive tax system?
expeople1 [14]
D. The burden of taxes is much higher on individuals with lower incomes.
7 0
2 years ago
Read 2 more answers
Read the following scenario. Research options for payment, and use the PACED decision-making model to decide how Emmitt should p
storchak [24]

first look at the starting value then approximately affect the ending value

8 0
3 years ago
Other questions:
  • One of Sanjay's work responsibilities is to check inspection stations periodically to monitor the quality of the products throug
    9·1 answer
  • 1. If the government decides to subsidize the production of a good, the result would be a decrease in the equilibrium price and
    8·1 answer
  • Automation of a process activity consists of moving work from the ________ of the symmetrical five-component framework.
    12·1 answer
  • . LG plans to structure a transaction as a legal sale of property, even though the economic substance of the transaction is a le
    15·1 answer
  • Which stage of economic development is a time of change from the traditional way of doings things in a society to moving toward
    13·1 answer
  • Organizational portfolio plan, the final phase of the strategic planning process, involves?
    15·1 answer
  • On January 1, 2020, Piper Corp. purchased 40% of the voting common stock for of Betz, Inc. for $2,000,000 and appropriately acco
    15·1 answer
  • Shared development of innovations among several departments is emphasized by the _____ approach to innovation
    7·1 answer
  • Lisa is wondering if her company is earning the income they expected to earn at the beginning of this year. She looks at to see
    8·1 answer
  • what is the supplier relationship like when the vendor is viewed as an partner? (select all the items that apply.)
    9·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!