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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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1. A major controversy that is yet to be resolved about the Medicare Prescription Drug, Improvement and Modernization Act of 200
qaws [65]

Answer:

C. What the program will ultimately cost the federal government

Explanation:

The Medicare Prescription Drug, Improvement, and Modernization Act of 2003 was an attempt to make improvements or amendments to the Social Security Act.  It radically changed the playing field for private plans participating in the Medicare program by substantially raising monthly payment rates in an effort to stabilize the market and reverse the decline in benefit generosity.  It also provided for voluntary prescription drugs under the medicare program.  However, the utilization and cost of the program skyrocketed as soon as the funding source was established.  It has remained unknown what the program will ultimately cost the federal government, no wonder the current administration under Trump wants to turn it upside down.

3 0
3 years ago
A financial analyst expects KacieCo. to pay a dividend of $3 per share one year from today, a dividend of $3.50 per share in yea
Helga [31]

Answer:

If your required return on KacieCo stock is 15 %, the most you would be willing to pay for the stock today if you plan to sell the stock in two years is $26.43

Explanation:

Accoring to the given data we have the following:

D1= $3

D2=$3.50

P2=$28

Ks=15%

Therefore, in order to calculate the most P0 you would be willing to pay for the stock today if you plan to sell the stock in two years, you would have to use the following formula:

P0 = PV of D1 + Pv of D2 + PV of P2

P0 = D1/(1+ks)^1 + D2/(1+Ks)^2 + P2/(1+Ks)^2

P0 = 3/(1+15%) + 3.5/(1+15%)^2 + 28/(1+15%)^2 = $26.43

6 0
3 years ago
he natural level of output is the amount of real gdp produced a. when the economy is at the natural level of aggregate demand. b
Cloud [144]

The natural level of output is the amount of real GDP produced b. when the economy is at the natural rate of unemployment.

Real GDP is essentially a measure of a country's total economic output, adjusted for changes in prices. The value of real GDP reflects a country's economic statistics at a macro level.

When real GDP produces natural output, that is, the output level is in line with the equilibrium of the labour market when the real price level is equal to the expected price level. Then the economy makes the most of its productivity, including fully utilized labour, which means that the economy is at the natural rate of unemployment.

Find out more on the natural rate of unemployment at:

brainly.com/question/17205513?referrer=searchResults

#SPJ4

3 0
1 year ago
Carlton Soup Company makes crackers, bread, and soup. Presented here are the items listed on a simplified version of its recent
Mademuasel [1]

Answer:

Carlton Soup Company

Classified Balance Sheet as of July 31 (dollars in millions)

Assets

Current Assets:

Cash and cash equivalents                 $300

Accounts receivable                              595

Inventories                                             958

Other current assets                               70

Total current assets                         $1,923

Non-current assets:

Property, plant, and equipment, net 2,397

Other assets                                          132

Intangible assets                               3,023

Total non-current assets                $5,552

Total assets                                     $7,475

Liabilities and Equity

Current Liabilities:

Accounts payable                             $ 668

Accrued expenses                               599

Other current debt                            1,080

Total current liabilities                    $2,347

Other noncurrent liabilities             3,806

Total liabilities                                $6,153

Equity:

Common stock, $0.0375 par value  386

Retained earnings                             936

Total equity                                   $1,322

Total liabilities and equity            $7,475

Explanation:

a) Data and Calculations:

Cash and cash equivalents                  300

Accounts receivable                             595

Inventories                                            958

Other current assets                              70

Property, plant, and equipment, net 2,397

Other assets                                         132

Intangible assets                               3,023

Accounts payable                            $ 668

Accrued expenses                             599

Other current debt                           1,080

Other noncurrent liabilities             3,806

Common stock, $0.0375 par value  386

Retained earnings                             936

4 0
3 years ago
The amount owed when credit is used is equal to the __________ plus __________. A. Balance. . . Tax B. Interest. . . Tax C. Prin
Marysya12 [62]

Answer:

A.Balance...Tax

Explanation:

the correct answer

8 0
2 years ago
Read 2 more answers
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