The reduced pre-tax rate of return on municipal bonds is an example of an explicit tax.
The problem is a false statement.
What is explicit tax?
The impact of taxes on an asset's price is known as an implicit tax. For instance, the price will increase to reflect the tax preference if an asset is tax-preferred. To avoid errors, one must explicitly consider implicit taxes.
Investors must pay the implicit taxes as a cost for preferred (explicit) tax treatment. Tax preferences are the variations between an investment's taxable income and financial accounting income before taxes. Tax preferences are referred to as a whole as tax subsidies.
Therefore,
The problem is a false statement.
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Answer:
The correct options are I and II
Explanation:
A debit card is the kind of payment card, which deducts the money directly or straight away from the checking account of the customer in order to pay for the purchase.
These cards also referred to as the check cards, which offer the person , the convenience of the credit cards as well as many of the customer protections. So, it could be used when the person involve in withdrawal of money from ATM and at point of sale, where the transaction is finalized and the customer tenders the payment in exchange of the service or good.
The correct alternative regarding tax revenue:
<u>B-Personal income tax is currently the largest source of government revenue in South Africa.</u>
<u>Direct </u><u>Taxes</u>
- it is levied on earnings and activities conducted.
- the burden of tax cannot be shifted in case of direct tax.
- it is paid directly by individual concerned.
- it is paid after the income reaches in the hands of the taxpayer
- Tax collection is difficult.
- instance income tax, wealth tax etc.
<u>Indirect </u><u>Taxes</u>
- it is levied on product or services.
- the burden of tax shifted for indirect taxes
- It is paid by way of one man or woman however he recovers the same from another person i.e. person who actually bear the tax ultimate consumer.
- it is paid before goods/service reaches the taxpayer.
- Tax collection is exceptionally easier
- Example GST, excise duty custom duty sale tax carrier tax
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Answer:
B. Accounts Payable 20,000 Purchase Discounts 800 Cash 19,200
Explanation:
The journal entry is shown below:
Account payable Dr $20,000
To Purchase discount $800 ($20,000 × 4%)
To Cash $19,200
(Being the payment is recorded)
While recording this transaction we debited the account payable as it reduced the current liabilities while at the same time it also reduced the asset so we credited it and along with it the purchase account is also credited
Answer:
a) Business ethics.
Explanation:
Business ethics are moral principles that guide the way a business behaves. The same principles that determine an individual”s actions also apply to business. Acting in an ethical way involves distinguishing between “right” and “wrong” and then making the “right” choice.
Falsifying drug manufacturers’ reports to the Food and Drug Administration is a felony and is "Wrong"