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xxMikexx [17]
3 years ago
11

State tax officials, having had considerable success in persuading delinquent individuals to pay their back taxes through the in

centive of reduced penalties, plan to adopt a similar approach in order to collect past due taxes from corporations.The state tax plan outlined above assumes thatA) federal tax officials will not attempt to collect back taxes in the same mannerB) stiff fines are not the only way to collect past due corporate taxesC) corporations tend to be delinquent in their taxes for the same length of time that individual taxpayers areD) past due taxes cannot be collected without a reduction in penaltiesE) penalties for delinquent corporations will have to be reduced by the same percentage as were penalties for delinquent individuals
Business
1 answer:
Akimi4 [234]3 years ago
7 0

Answer:

B) stiff fines are not the only way to collect past due corporate taxes

Explanation:

Collecting taxes is not an easy or inexpensive job. The IRS spends billions of dollars in order to collect taxes and the same applies to state taxing entities (at a smaller proportion).

So if state tax official can find a way to collect past due taxes then it should always be a good idea. Everyone loves a discount and corporations probably love discounts more. If the reduction or elimination of fines will make corporations pay their state taxes, then it's a great idea.

It's always better to collect $100 in taxes than to have $200 in past due taxes that aren't collected.

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Conrad wanted to offer high-quality meals in his restaurant. His motto was "the best darn meat and potatoes for miles
murzikaleks [220]

Given that Conrad's time of service delivery is slow, my advice to him would be that he has to address his quality and his service.

<h3>What is competitive advantage?</h3>

This term as it applies to the question has to do with the advantage that a business has over its competitors.

For Conrad to have this advantage they must try to serve their customers better and stop making them wait for too long.

Read more competitive advantage on here:

brainly.com/question/14030554

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8 0
2 years ago
In a Las Vegas casino, an employee discovered a flaw in the accounting system. The accounts payable clerk discovered that he was
kap26 [50]

Answer:

- This type of fraud is check tampering

- It amounts to 20.1% of fraud cases in small businesses, and 8.4% of fraud in large businesses

- This type of fraud can be prevented by rotating employees that handle check issuance to vendors, review of budget versus actual expenditure, monitoring of audit trail to see if beneficiary was changed, daily statement download for reconciliation, and restriction of functions for example a employee that issues checks should not also reconcile bank statement.

Explanation:

Check tampering is a very common fraud that involves changing the beneficiary of a valid check so that funds can be diverted.

In the given scenario the accounts payable clerk was able to change checks to his name in order to divert $10,000. This was only discovered by chance when an employee noticed the change in name.

Various internal control measures can be taken to prevent this and they are listed above

4 0
4 years ago
What is the historical development of accounting​
Vaselesa [24]

Answer:

Accounting history dates back to ancient civilizations in Mesopotamia, Egypt, and Babylon. For example, during the Roman Empire the government had detailed records of their finances. However, modern accounting as a profession has only been around since the early 19th century. The earliest accounting records were found over 7,000 years ago among the ruins of Ancient Mesopotamia. At the time, people relied on accounting to keep a record of crop and herd growth.

Explanation:

4 0
3 years ago
jerome, incorporated, paid $8,850 to make a debt investment in trading securities of tedesco, incorporated. on december 30, (wit
Serjik [45]

The adjusting entry for the sale of debt securities by Jerome Incorporated on December 30, is as follows:

<h3>Adjusting Journal:</h3>

December 31:

Debit Cash $7,000

Credit Investment $6,500

Credit Gain on Sale of Investment $500

  • To record the sale of debt investment (part) and the gain therefrom.

<h3>What is an adjusting entry?</h3>

An adjusting entry is the journal entry made at the end of the financial year to ensure compliance with the accrual concept and the matching principle of generally accepted accounting principles.

An adjusting entry does not include the initial investment transaction made by Jerome Incorporated.

<h3>Transaction Analysis:</h3>

Dec. 30:

Cash $7,000  Investment $6,500 Gain on Sale of Investment $500

Learn more about adjusting entries at brainly.com/question/13933471

#SPJ1

4 0
2 years ago
What tab should you choose to select a theme for your presentation?
Deffense [45]

Answer:

design

Explanation:

trust me i made a website and it will be the same for a presentation

3 0
3 years ago
Read 2 more answers
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