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xz_007 [3.2K]
3 years ago
8

In terms of the tax formula applicable to individual taxpayers, which of the following statements, if any, is correct?

Business
1 answer:
creativ13 [48]3 years ago
7 0

Answer:

The correct answer is a. In arriving at taxable income, a taxpayer must choose between the standard deduction and itemized deductions.  

Explanation:

In tax law, the tax base is the magnitude that results from the measurement of the taxable event. It is defined as the dimension or magnitude of an element of the objective budget of the taxable event that is judged as determining the relative contributory capacity.

In tax legal relations, the taxable event shows the existence of an economic capacity in the subjects, but for the tax to be applied, this fact must be assessed in some way, usually in monetary units.

The tax base is ultimately the magnitude that is used in each tax to measure the economic capacity of the subject, such that it is reflected in ceilings.

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This is the process! have a good day!

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3 years ago
Economic efficiency requires that a natural monopoly's price be: Select one: A. equal to marginal cost where it intersects the d
slavikrds [6]

Answer: A. equal to marginal cost where it intersects the demand curve

Explanation:

In a pure competition, the market is efficient because it balances demand and supply and gives an equilibrium price that takes both of them into account.

In this market, the price is equal to the marginal revenue of a firm and the profit maximizing level of production is where the marginal revenue intersects the marginal cost.

The efficient level is therefore where price equals marginal cost. The same goes for a natural monopoly. If economic efficiency is to be achieved, the natural monopoly's price must equal the marginal cost at the equilibrium price.

7 0
3 years ago
Veruca sells therapeutic bath salts on the Internet. Her annual revenue is​ $52,000 per​ year, the explicit costs of her busines
koban [17]

Answer:

D. ​$38,000

Explanation:

The formula to compute the accounting profit is shown below:

Accounting profit = Annual revenue - Explicit cost

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                             = $38,000

It shows a relationship between the annual revenue and the explicit cost. The difference between these two is known as accounting profit.

8 0
2 years ago
Which of the following is the best definition of transferable skills?
Rainbow [258]

Answer:

Skills that you may have learned in one context that you can take with you to many other contexts and industries.

Explanation:

Considering the available options, the best definition of transferable skills is "Skills that you may have learned in one context that you can take with you to many other contexts and industries."

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2 years ago
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