Indirect taxes Study guides, Class notes & Summaries

AAMS Practice Exam - Questions and Answers An employer plans to use corporate-owned life insurance to informally fund a nonqualified deferred compensation agreement and wants flexibility regarding investment choices. Which one of the following types of life insurance should this employer choose? Variable life insurance The latest economic reports have been gloomy, and the stock market is in a protracted slump. Most of your regular stock customers are selling out their positions. A new client, ...

Direct tax - correct answer Tax that everyone has to pay, it is taken directly out of your salary. Indirect tax - correct answer An indirect tax is a tax imposed by the government that increases the supply costs faced by producers. -The amount of the tax is always shown by the vertical distance between the two supply curves. Result of indirect tax - correct answer -Less can be su...

Indirect Taxes - correct answer Taxes that increase a business firm's costs of production and, therefore, the prices charged to consumers. Examples are sales, excise, and property taxes.( placed upon the selling of a product) Direct Taxes - correct answer taxes enforced directly onto the taxpayer (income and property taxes) Specific tax - correct answer a specific, fixed amount o...

Solutions Manual for Fundamental Managerial Accounting Concepts 10th Edition by Edmonds Full Chapter Latest Test Bank. Chapter 01 - Management Accounting and Corporate Governance 1-1 Teaching Notes for Chapter 1 Managerial accounting requires teaching methods different from those used in financial accounting. In the introductory financial accounting course, instructors teach students about accounting standards. A primary goal in teaching managerial accounting is to develop students’ con...

S - Cash inflows derived from sales revenue during a given year Esubscript ND - Annual expenses on items that cannot be depreciated Items that cannot be depreciated - raw materials, labor, consulting, expertise Cfside - The cash flow impact that this project would have on the firm's other projects and products After-tax quantity and considers both side effects and opportunity costs Accounts for indirect impacts T - Firm's income tax rate Ed - New expenses for depreciable...

WGU - D265 - Critical Thinking - Reason and Evidence Latest Update (2022/2023) Already Passed PROPOSITIONS Are statements that can be true or false NON-PROPOSITONS Are sentences that are not statements about matters of fact or fiction. They do not make a claim that can be true or false. SIMPLE PROPOSITIONS Have no internal logic structure, meaning whether they are true or false does not depend on whether a part of them is true or false. They are simply true or false on their own. (Example: Har...

Loan-to-Value Ratio (LTV) - correct answer The percentage of the lesser of the appraised value or sales price that the lender will lend. ex: If a borrower is approved for an 80% loan, it means that the lender will loan up to 80% of the sales price or appraised value, whichever is lower. Package Mortgage - correct answer Includes both real and personal property ( fixtures and furnishings) Blanket Mortgage - correct answer Covers more than one piece of property. Wraparound Mortgage - c...

WGU D196 Objective Assessment Prep (Latest 2024/ 2025 Update) Principles of Financial and Managerial Accounting- Questions and Verified Answers| 100% Correct| Grade A Q: Which of the following is not an example of a cost driver? a. Miles driven b. Selling costs c. Machine hours d. Number of customers Answer: b Q: Which item is a period cost? Manufacturing supplies Overhead directly tied to the production facility Raw materials Marketing expense Answer: d Q: ...

3 Types of Customer Payments: - Correct Answer-EFT (electronic funds transfer), Paypal on web store, Credit Card processing ACH (what is it, and it is the only way to do what?) - Correct Answer-Automated Clearing House (process transactions through ACH network for EFT) The only way to pay vendors in NS. EFT - Correct Answer-Electronic Funds Transfer (transfer directly from bank account) Nexus - Correct Answer-how to collect and pay taxes in different areas of the world (defines jurisdic...

Indirect methods of measuring depreciation - Answer- -Sales comparison (Market Extraction) -Capitalization of income method Financing - Answer- The first adjustment in the sales comparison approach is Sales Comparison Approach - Answer- A fundamental strength in this approach is that it reflects the actions of the marketplace as well as what by buyers & sellers are actually doing doing and paying. -Consumer tastes/preferences -Consumer income -Price of related commodities -Consumer ...