Answer: The system of tax began in America in the year 1861, this was during the civil war, where the Congress passed an Act that included a tax on personal incomes inorder to meet up war expenses.
Explanation:
The system of tax began in America in the year 1861, this was during the civil war, where the Congress passed an Act that included a tax on personal incomes inorder to meet up war expenses. The tax system was cancelled after 10years of the practice but was later reinstated by the Congress in 1894 on federal level, but it was ruled out the following year by the Supreme Court because it was taxed directly and not according to the population of each state. In the year 1913 the federal government was allowed to tax everyone irrespective of the sizes of their state by the 16th amendment. This has been what's obtainable about the tax system till date.
Answer:
Increase of he cost of living VS stagnaition of income
Explanation:
Having a fixed income that is not adjusted by inflation affects the quality of living as year by year the cost of goods and services will rise but the income will remain the same. Therefore it is a matter of time until the income wont be enough to pay all the expenses and costs.
<span>the real exchange rate is greater than one and arbitrageurs could profit by buying oranges in Morocco and selling them in the U.S.</span>
<span>the action of selling the same product at different prices to different buyers, in order to maximize sales and profits.
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Answer: Option B
Explanation: In simple words, current liabilities refers to the obligations and promises that an entity has to pay within a year. These liabilities usually arise due to the need of an organisation to fulfill their short term requirements to operate the business efficiently.
These liabilities are of critical in nature as they directly affects the liquidity of the business. In the given case, sales tax payable is the only obligation that must be fulfilled with a year. Hence it is a current liability.
