Fiscal adequacy - Study guides, Class notes & Summaries

Test Bank for Accounting for Governmental & Nonprofit Entities 19th Edition By Jacqueline Reck Version 1 2 Student name:__________ 1) Explain the essential differences between general purpose and special purpose governments and give several examples of each. 2) Identify and explain the characteristics that distinguish governments and not-for-profit entities from business entities. 3) GASB and FASB standards are concerned only with external financial reporting; whereas, FASAB standar...

What type of risk is unique to a specific industry, business enterprise, or investment type? - ANSWER-Nonsystematic risk Under which of the following circumstances is an investor in a position to acquire stock? - ANSWER-Buy a call, sell a call (The holder of a call has the right to buy stock at the strike price if exercised. The seller of a put is obligated to buy stock at the strike price if exercised) Options- a premium - ANSWER-the cost of an option contract, expressed in dollars per sh...

CQIB Study Cards Questions With Correct Answers. Which regulator makes and enforces rules which govern the capital adequacy of Australian Banks? - answerThe Australian Prudential Regulation Authority - APRA What events occurred in the Banking Industry in 1800s and early 1900s? - answerFirst Bank in Australia was Bank of NSW, Established in 1817 Sydney. Discovery of gold in 1851 led to minting of Australia's own gold coins spurring development of Banking. Boom in Australian property market in 18...

TEST BANK-INCOME TAXATION CHAPTER 1-GENERAL PRINCIPLES AND CONCEPTS OF TAXATION TEST BANK-INCOME TAXATION CHAPTER 1-GENERAL PRINCIPLES AND CONCEPTS OF TAXATION A.MULTIPLE CHOICE: 1. THE PROCESS BY WHICH THE SOVEREIGN RAISES INCOME TO DEFRAY THE EXPENSES OF THE GOVERNMENT IS CALLED- (RPCPA) A. SUBSIDY B. TARIFF C. TAXATION D. TRIBUTE 2. ONE OF THE CHARACTERISTICS OF INTERNAL REVENUE TAX IS THAT THEY ARE-(RPCPA) A) CRIMINAL IN NATURE B) PENAL IN NATURE C) POLITICAL IN NATURE D) GENERAL...

CQIB Study Cards Questions With Correct Answers. Which regulator makes and enforces rules which govern the capital adequacy of Australian Banks? - answerThe Australian Prudential Regulation Authority - APRA What events occurred in the Banking Industry in 1800s and early 1900s? - answerFirst Bank in Australia was Bank of NSW, Established in 1817 Sydney. Discovery of gold in 1851 led to minting of Australia's own gold coins spurring development of Banking. Boom in Australian property mark...

Name Clas Dat : s: e: CHAPTER 01—THE BUSINESS OF BANKING 1. A bank is a not-for-profit organization. a. b. True False False 1 BNKG.CFFT.3.LO: 1.1.1 - LO: 1.1.1 ANSWER: POINTS: LEARNING OBJECTIVES: 2. All federally chartered banks must be corporations. a. True ANSWER: POINTS: LEARNING OBJECTIVES: b. False True 1 BNKG.CFFT.3.LO: 1.1.1 - LO: 1.1.1 3. Commercial banks offer their services only to businesses. ANSWER: POINTS: LEARNING OBJECTIVES: 5. Issuing credit cards is ...

COMPLETGE EXAM FOR FUNDAMENTALS OF TAXATION Taxation - CORRECT ANSWER-is the process of collecting fees or taxes from the individuals who earn income from compensation or business profits to raise revenues for govn. expenditures and other services nature of taxation - CORRECT ANSWER-is the relationship or cycle that shows how the govn. and its citizens benefit from each other through taxation principle of taxation - CORRECT ANSWER-states that taxes are collected to supp...

TEST BANK INCOME TAXATION CPAR.DOC VERSION 1(QUESTIONS & ANSWERS) 2023- 2024 LATEST EXAM TAXATION 1 – Income Taxation General Principles of Taxation 1. Taxation as distinguished from police power and power of eminent domain. A. Property is taken to promote the general welfare. B. Maybe exercised only by the government. C. Operates upon the whole citizenry. D. There is generally no limit as to the amount that may be imposed. 2. The following are constitutional limitations, except A....

Taxation - correct answer is the act of laying a tax, the process or means by which the sovereign, through its law making body, raises income to defray the necessary expenses of the government. Lifeblood Theory - correct answer As stated in the case of CIR vs. Algue [158 SCRA 9], the existence of government is a necessity; it cannot exist nor endure without the means to pay its expenses; Necessity Theory - correct an...

COMPLETGE EXAM FOR FUNDAMENTALS OF TAXATION Taxation - CORRECT ANSWER-is the process of collecting fees or taxes from the individuals who earn income from compensation or business profits to raise revenues for govn. expenditures and other services nature of taxation - CORRECT ANSWER-is the relationship or cycle that shows how the govn. and its citizens benefit from each other through taxation principle of taxation - CORRECT ANSWER-states that taxes are collected to supp...