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3 years ago

Formal tax definition

Business

2 answers:

Olin [163]3 years ago

7 0

Answer:

Formal tax legislation is the process by which a proposed tax rule or tax change may become law in the United States. Formal tax legislation follows specific steps as defined by the U.S. Constitution.

Explanation:

https://www.investopedia.com/terms/f/formaltaxlegislation.asp

const2013 [10]3 years ago

4 0

Answer:

Explanation:

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Skysong, Inc. reported net income of $196,870 for 2017. Skysong, Inc. also reported depreciation expense of $36,940 and a loss o

Brilliant_brown [7]

Answer:

2017 Cashflows from operations Skysong, Inc.

Amount in Dollars

Net earnings 196,870.00

<u>Additions to cash</u>

Depreciation 36,940.00

Loss on asset disposal 4,720.00

Increase in accounts receivable (13,760.00)

Increase in accounts payable 16,070.00

Increase in prepaid expenses (4,250.00)

Net cash flows from operating activities 236,590.00

Explanation:

Using the Indirect method, Depreciation as a non cash item is added back to the net income. An increase in an asset is an outflow of cash while an increase in a liability is treated as an inflow of cash. Hence, operating activities section of the statement of cash flows for 2017 is as shown below;

Amount in Dollars

Net earnings 196,870.00

<u>Additions to cash</u>

Depreciation 36,940.00

Loss on asset disposal 4,720.00

Increase in accounts receivable (13,760.00)

Increase in accounts payable 16,070.00

Increase in prepaid expenses (4,250.00)

Net cash flows from operating activities 236,590.00

5 0

4 years ago

20 Point

Harlamova29_29 [7]

Answer:

Number 2 or Number 4.

Explanation:

On number 2, the robot freezes when it doesn't recognize the command. Obvious problem. On number 4, the robot confuses similar sounding commands. Also an obvious problem.

4 0

3 years ago

In the past there have been violent protests against the World Bank and the World Trade Organization. The protesters argued that

rjkz [21]

Answer:

1) disagree with the protesters because these practices will help make both rich and poor countries richer.

Explanation:

Free trade and foreign direct investments should make increase the wealth of both poor countries and rich countries. This rarely happens due to one main problem, corruption in poor countries. A lot of people are angry at foreign multinational corporations that have excessive powers on poor countries and they also earn extremely high profits, but it is not only the fault of the multinationals, it is also the fault of the poor countries' leaders.

No corporation can simply go to another country and claim everything for themselves, ti doesn't work like that. Generally corporations have very deep pockets and they simply bribe a president, a secretary of something, a few more people including congressmen and magically they purchase the purchase assets at below market prices. This repeats again and again everywhere around the world, with a very few exceptions.

For example, Ireland was extremely poor and when it joined the European Union it decided to host several multinationals and it has turned into a developed country since then. Chile is another successful story, and it was a dictator that opened Chilean economy to foreign investment.

The problem with most poor countries is that their corrupt leaders benefit themselves and not the country.

6 0

3 years ago

Which of the following is true of corporations that operate in several different countries? a. Uniformity of tax-laws across d

frozen [14]

Answer: Option C

Explanation: A company operating in countries other than its home country is called multinational corporations. These entities operate their business in several different countries with the objective of profit maximization.

These entities control their business in foreign countries from their head quarters in their home country. Thus, in case the company did something illegal or unethical then the government can expropriate their assets without any compensation.

Thus, the correct option is C.

8 0

4 years ago

A customer with a long option position sells an option in the same series. This is referred to as a:(A)Opening sale(B)Opening pu

Lelechka [254]

Answer:

Opening purchase

Explanation:

This happens when a buyer buys a stock or security with the aim of sustaining or increasing the long position in the stock market.

Buy to open informs the participant about the opening of new market rather than closing out on the old market.This remains open until an opposition trade takes place.

It is good to also note that a position can be open and close within a very short period.

4 0

3 years ago

Formal tax definition​

Formal tax definition