If income is accrued <u>or arises outside India and is not received in India</u>, it is not taxable in the case of Non-Resident.
<h3>Who is a resident and non resident?</h3>
A resident is a person who has resided in India in that year for 182 days or more. He is a natural person or an individual who is domiciled in a particular state.
A Non- Resident is a person who is not the resident of India for tax purposes. Section 2(30) defines non-resident as a person who is not a resident.
Basically, Income which accrue or arise outside india and also received outside india is taxable in case of Non-Resident.
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First of all, the laissez-faire economics is also known as hands-off apporach. This is from the 19th century. The leaders of the Middle class had a good reponse by embracing this type of approach. Some of the people looked to modify this kind of apporach for the government to have more control. Generally was accepted but also wished to be modified in order for the high class leaders to get control
Answer:
Adjusting Entry
Cost of goods sold (Dr.) $11,000
Beginning Inventory (Cr.) $6,000
Purchases (Cr.) $5,000
Closing Entry
Ending Inventory (Dr.) $2,000
Income Summary (Cr.) $2,000
Explanation:
The adjusting entry is made by debiting cost of goods sold account which reflects the amount of inventory sold during the month and the entry is credited by beginning inventory of $6,000 and the remaining amount which is $5,000 is credited in purchases account.
The closing entry is made by debiting the ending inventory by the amount of $2,000 and Income Summary account is credited by the same amount to close the inventory account.
Answer:
0.875
Explanation:
The income elasticity of demand measures the responsiveness of quantity demanded to changes in income.
Income elasticity of demand = percentage change in quantity demanded / percentage change in income
14% / 16% = 0.875
Demand is inelastic because the coefficient of elasticity is less than one.
I hope my answer helps you
The definition of inhumane is something cruel and unkind
