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DaniilM [7]
2 years ago
8

Tax evasion versus tax avoidance

Business
1 answer:
lora16 [44]2 years ago
8 0

Answer:

1. The act of reducing taxes by deliberately understating income or overstating deductions is called ______

Tax evasion

2. Leaving the tip earnings out of her income on her tax returns is

Tax evasion

Explanation:

Tax evasion is deliberate reduction of gross income either by excluding, understating, omitting income, or overstating deductions.  It is not legal.  Tax avoidance is managing taxable income by effective tax planning (e.g. through investments, insurance, etc.) so that less tax is paid.  It is legal and allowed.

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Incremental budgeting allocates increased or decreased funds to a department by using the last budget period as a reference poin
zloy xaker [14]

Answer:

True

Explanation:

The incremental budget technique is an important management accounting technique, which is prepared by making minimal changes in the previous budget. The budget is designed by allocating funds by using the preceding budget as a reference point. Incremental budget encourages spending up to the budget. It also helps to make sure that a reasonable budget is allocated for the next period.

6 0
3 years ago
Which of the following are true if you pay only the minimum amount each month towards your credit card bill?a. You will be charg
BigorU [14]

Answer:

The correct answer is A and C as both are true statement.

Explanation:

Credit Card is a facility which is offered by banks to borrow money and it could be used by the borrower for buying expensive goods and the services up front. It has a time period, in which the borrower need to make payment for the amount used by the borrower along with the interest charged.

So, if the borrower paid the minimum amount towards the credit card, then the borrower is still in debt until clears or paid the whole amount and also will be charged the interest against the remaining balance or amount.

4 0
3 years ago
For which expense do state governments provide financial help to their local governments?
jeka94

expensive...............................

7 0
3 years ago
Read 2 more answers
Monroe consumes crab cakes and tuna. Monroe's utility increases with the consumption of crab cakes, but his utility neither incr
SpyIntel [72]

Answer:

A) horizontal lines

Explanation:

An indifference curve is a curve that shows the two combinations of goods that gives a consumer equal satisfaction.

If Monroe's utility doesn't increase with the consumption of crab cakes, his indifference curve would be a horizontal line. This is because crab cakes and tuna are perfect subsistuites. Monroe would be willing to substitute tuna for crab cakes as he doesn't derive any satisfaction from consuming tuna.

I hope my answer helps you

8 0
3 years ago
If you work for yourself, you never have to worry about business ethics
ASHA 777 [7]
False. You should worry MORE about business ethics when you work for yourself to ensure for a better business and avoid getting sued
5 0
3 years ago
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