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Anna35 [415]
3 years ago
6

3. Company with single taxation is called?

Business
1 answer:
bagirrra123 [75]3 years ago
4 0

Answer:

(a) S-Type

Explanation:

Taxation can be defined as the involuntary or compulsory fees levied on individuals or business entities by the government to generate revenues used for funding public institutions and activities.

The different types of tax include the following;

1. Income tax: a tax on the money made by workers in the state. This type of tax is paid by employees with respect to the amount of money they receive as their wages or salary.

2. Property tax: a tax based on the value of a person's home or business. It is mainly taxed on physical assets or properties such as land, building, cars, business, etc.

3. Sales tax: a tax that is a percent of the price of goods sold in retail stores. It is being paid by the consumers (buyers) of finished goods and services and then, transfered to the appropriate authorities by the seller.

A company with single taxation is called S-Type i.e sole proprietorship.

Basically, a sole proprietorship business is a type of business that is owned by a single person and as such their profits are taxed once as personal income tax.

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Westbank Real Estate, Inc. owns 10 acres of forested land. Westbank wants the land cleared in order to build houses. Westbank em
gizmo_the_mogwai [7]

Answer:

Answer 1  

Yes, all the electronic forms of the transcribed agreement will be measured underneath the act of deceptions. These kinds of agreements are assumed comparable significance as in the circumstance of contract inscribed on the paper.

Answer 2

It “does” fulfill the obligation. As per the law of deceptions, all the electronic contract will be named corresponding to the inscribed agreements .

Answer 3  

Land is considered as the “real property” beside with all the possessions involved openly to it.

Answer 4  

“All” physical objects

However, land contain all the additional possessions involved to the land openly .

6 0
3 years ago
It is important negotiators consider the shadow negotiation carefully before meeting with the other party so they:________
UkoKoshka [18]

Answer:

b. are clear in their own minds about the scope of the negotiations.

Explanation:

Shadow negotiations refer to the unspoken assumptions that determine how those involved in a deal with each other, whose opinions get heard, whose interests hold sway. Therefore, this is important so the negotiators are clear in their own minds about the scope of the negotiations. Meaning that they go into the negotiation knowing who has more bargaining power and how far they can actually take the negotiation.

7 0
3 years ago
Campus Bus Service entered into a contract with Smith Bus Company to purchase 10 buses. One week before Campus Bus was scheduled
dangina [55]

Options:

  • Smith Bus should be excused from performance under the clause for the rights on improper delivery
  • Smith Bus should not be excused from performance because it did not act in good faith
  • Smith Bus should be excused from performance under the test of commercial impracticability
  • Smith Bus can exercise its right of anticipatory repudiation

Answer:

Correct answer is Option c.

<u>Smith Bus should be excused from performance under the test of commercial impracticability </u>

Explanation:

In this case, Smith cannot fulfil the contract obligation due to an unforeseen event. Hence, Commercial impracticability shall apply.

5 0
2 years ago
Which of the following is correct concerning reactions to INCREASES in activity? Total Variable Cost Variable Cost Per Unit A) I
maxonik [38]

Answer:

Total Variable Cost, Variable Cost Per Unit

Explanation:

  • The increase of the activity is associated with the increase of the total variable costs and costs per the unit and is the sum of the variable cots of each individual product developed and is obtained by multiplying one unit of the variable cost to the products.
6 0
3 years ago
PA15.
ser-zykov [4K]

Answer:

                                         Happy Trails

                        Income statement using variable costing

                                                                $                      $  

Sales                                                                         1,900,500                                                                                

Less: Variable costs:

Direct material (27,000 units x $15)        405,000  

Direct labour (27,000 units x $15)           405,000

Variable overhead (27,000 units x $3)   <u>81,000 </u>

                                                                  891,000

Less: Closing stock (8,000 units x $33)  <u>264,000</u>  

                                                                  627,000

Add: Variable selling and administrative <u>133,000</u>       <u>760,000 </u>

Contribution                                                                    1,140,500

Less: Fixed cost:

Fixed production cost (27,000 x $25)         675,000

Fixed selling and administrative expenses 300,000    <u>975,000 </u>

Net profit                                                                           <u>165,500</u>

                           Profit reconciliation statement

                                  Closing stock         Net profit

                                             $                         $

Absorption costing         464,000                365,500

Less: Marginal costing    <u>264,000</u>                <u>165,500 </u>

Difference                        <u>200,000</u>               <u> 200,000</u>

The difference of $200,000 in net profit is as a result of $200,000 difference in closing inventory.

Explanation:

In variable costing, variable costs are deducted from sales so as to obtain contribution margin. Net profit is the difference between contribution and fixed costs. Closing stock is the difference between production units and sales units. Closing stock is valued at marginal cost per unit in variable costing. Marginal cost per unit is the aggregate of all variable cost per unit.

3 0
3 years ago
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