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
weeeeeb [17]
3 years ago
14

WHY do we pay tax and what is it use for

Business
2 answers:
Vika [28.1K]3 years ago
7 0
Money paid in taxes go to the state funding.
lara [203]3 years ago
5 0
We pay taxes <span>The money you pay in taxes goes to many places. In addition to paying the salaries of government workers, your tax dollars also help to support common resources, such as police and firefighters. Tax money helps to ensure the roads you travel on are safe and well-maintained. Taxes fund public libraries and parks. </span>
You might be interested in
The audit Mr. Chu is working on for a technology company is regulated. What does this mean?
Aliun [14]

It means that the technology company will use the audit results to analyze risks. Thus option A is correct.

<h3>What is Audit ?</h3>

Audit refers to the checking of financial records of the company in order to ensure that the records are systematic and accurate. It is very helpful for the outsiders such as creditors, shareholders, government agencies etc as it provides the accurate information about transactions.

Mr. Chu will analyse the financial statements of the technology company an conclude about the risk involved in the company. Thus it helps in analyzing the risk. Therefore, option A is correct.

Learn more about auditing here:

brainly.com/question/14652228

#SPJ1

7 0
2 years ago
Owen plans to open Owen's Pets Store, a pet supplies outlet, and to hire Quinn and Ruth. Owen will invest only his own money. He
rusak2 [61]

Owen plans to open Owen's Pets Store, a pet supplies outlet, and to hire Quinn and Ruth. Owen will invest only his own money. He does not expect to make any profit for at least two years and to make almost no profit for the first three years, but he hopes to expand eventually. Which form of business organization would be most appropriate Owen employs few workers and is not expected to earn profit for the first few years. Although, he still hopes to expand his outlet. In this case, a sole proprietorship is the best option because it is easier and cheaper to start a company. The business owner is free to make all decisions without any consultations. The sole proprietorship earns moderate profits and does not require huge funds in the near future. Owen employs only Quinn and Ruth to run the pet store, which means that it is a comparatively small outlet and does not require huge funds for its financing. Owen will enjoy one more advantage of paying a single tax. This means that the owner (Owen) is required to pay tax either on profits or personal income. This is because, in this organization, the owner and the business are the same entity. The earnings from the business are the personal income of the owner.

<h3>What is business organization?</h3>

The word "business organization" refers to the organizational structure of businesses and how such structure aids in achieving their objectives. Businesses are often built to concentrate on either making a profit or helping society. A company is considered a for-profit entity when it prioritizes making money. An organization is referred to as a nonprofit (or not-for-profit) organization and is not often called a business when it aims to further the social good through the arts, education, health care, or some other sector.

To learn more about business organization from the given link:

brainly.com/question/24734641

#SPJ4

5 0
2 years ago
HELP PLEASE!!! YOU ARE TRYING TO DETERMINE HOW LONG TO STUDY FOR THIS EXAM. EXPLAIN ECONOMICALLY.
Natalija [7]

Answer: What kind of exam is it? Study as long as you can if its flashcards or practice problems.

Explanation:

This is the best way to study

7 0
3 years ago
On March 25, 2021, Phillips Corporation purchased bonds of Atlas Corporation for $132 million and classified the securities as t
ValentinkaMS [17]

Answer:

An unrealized holding gain of $28 million in 2019.

Explanation:

At the financial year-end, the company have to reevaluate the investment to recognize the gain or loss.  

If the fair value is higher than actual investment, the company gain and vice versa it lost.

In this scenario, the fair value adjustment = the valuation on 31st December – purchased value = $150 million - $132 million = $28 million.

Because this step is just an approach to record new valuation of investment, then it’s consider unrealized.

In short, Phillips Corporation should first update the fair value adjustment of $28 million on December 31 2021

4 0
3 years ago
BRAINLIEST Prepare a balance sheet in proper format for the company as of December 31st based on the following accounts. Answer
Naya [18.7K]

Answer:

45000

Explanation:

3 0
3 years ago
Other questions:
  • The Cook Corporation has two divisions--East and West. The divisions have the following revenues and expenses: East West Sales $
    5·1 answer
  • Currently, the yield curve is ascending. A customer believes that the Federal Reserve will start to tighten credit by raising sh
    8·1 answer
  • Eorge, a chef and owner of l'auberge, a popular restaurant, is always visiting his competitors to observe how they are doing thi
    11·2 answers
  • A. statistics encompasses all scientific disciplines in which percentages are​ used, data are​ analyzed, and probabilities are f
    14·1 answer
  • The difference between a multinational corporation (MNC) and an international business is that __________.
    15·1 answer
  • Jane is conducting interviews in order to develop a customer profile for her client. She customizes each interview to each parti
    14·1 answer
  • The coefficient of variation, calculated as the standard deviation of expected returns divided by the expected return, is a stan
    7·1 answer
  • How much does a truck driver make a year?
    11·2 answers
  • A 15-year bond with a face value of $1,000 currently sells for $850.
    10·1 answer
  • An important use of customer lifetime value data is: a. All of these are correct. b. as a replacement for market segmentation. c
    13·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!