A characteristic common to governments and not-for-profit organizations is that they do not exist to provide goods or services at a profit or profit equivalent.   True or False

Q: Provide an example of a conservative accounting practice. Why is this practice conservative?

A:

Q: What do you think is the reason why governments grants "exclusion from the gross income

A: Possible reasons why government grants exclusions from gross income can be as follows.  1) To…

Q: Which is an incorrect statement regarding taxes? *       a. Taxes are necessary for the continued…

A: Taxes are the compulsory fees or financial charge imposed by the government on the taxpayers.

Q: Inadequacies can be linked to the public and private sectors' incapacity to govern effectively.…

A: In the given question we need to tell that whether the given statement is true or false. Statement:-…

Q: True or false is regulatory tax is intended to achieve some social or economic end?

A: Regulatory tax: Regulatory taxes are the charge or levy of taxes by the government on the general…

Q: Explain each of the following statements independently: a. Tax systems should be fair. b. The…

A: SOLUTION A- The Fair Tax Plan is a sales tax proposal to replace the current U.S. income tax…

Q: “ Not – for –profit organisation” do not maintain any capital account”. What do they maintain…

A: Organisation that are set up for welfare of society , charitable institutions , schools and Trade…

Q: a. The purpose meaning, it may be used to make up for the benefit receiv . Taxes may be imposed for…

A: Tax refers to the financial or necessary obligation which is imposed on the people of country or…

Q: Financial thought turned to the theory of social solidarity - due to the failure of the social…

A: The given statement is True

Q: 1. The following defines taxation, except: *   a. It is an inherent power of the state. b. It is an…

A: Federal Tax: Federal tax is levied by US Federal government and paid to the national government. The…

Q: If there is a conflict between a BIR Ruling and a Revenue Memorandum Ruling, which will prevail?

A: The Bureau of Internal Revenue work under the department of finance and all the duties and…

Q: 1. Which of the following is not considered a purpose of taxation? a. To regulate inflation b. To…

A: Hi student Since there are multiple questions, we will answer only first question. Taxes are the…

Q: The Federal Trade Commission (FTC) brings a deceptive trade practice action against Beneficial…

A: The slogan “Instant tax refund” is highly misleading. When the financial product of Beneficial’s…

Q: S1- Tax is an involuntary fee levied on businesses that is enforced by the legislative body in order…

A: As we know that Tax is levied by the government on individual and businesses. Lawmakers makes the…

Q: Which of the following is not a goal of the tax law? a.Economic goals such as reduction in…

A: Solution: Following are the goal of tax law: 1. Economic goals such as reduction in unemployment. 2.…

Q: The .. .. model is characterized by limited state activity and a weak non-profit sector. OA. Liberal…

A: The statist model is a model of corporate social responsibility and has made towards the benefits of…

Q: False Tax policies can be defined as Government's attitudes, objectives and actions with respects to…

A: The number of questions which has been asked is the four question which are multiple choice…

Q: Not-for-profit entities and state and local government organizations are small in comparison to the…

A: Custodial fund or account refers to the financial account which is set up for the beneficiary…

Q: The primary purpose of taxation is to raise revenue for the support of the government. However,…

A: Taxes are the amounts of liabilities that are to be paid by the persons to the government either…

Q: In the case of income tax there are high taxpayer costs but low government costs ? True or False

A: Income tax is known as the form of tax that is imposed on the income or profits of individuals or…

Q: Identify which statement is incorrect:    Sale of goods or services by any person or entity may…

A: Tax is the amount of duty payable to government upon the happening of certain business transactions,…

Q: Explain the main differences between tax evasion and tax avoidance and list the main actions taken…

A: Tax evasion is the use of illegal methods of concealing income or information from the IRS or other…

Q: What statement is false? a. A tax on consumption will effectively result in virtually all residents…

A: The question is related to consumption Tax. A consumption tax is a tax on the purchase of a good or…

Q: It is the tax legislator who determines the value of the offer true Error 0

A: Value is determined as per law rules and regulations

Q: Local Government Units, being limited in power, has the power to tax its constituents. Group of…

A: solution : Local Government Units, being limited in power, has the power to tax its constituents.…

Q: Taxes result in an excess burden or welfare loss, but government subsidies always result in a…

A:

Q: The purposes and objectives of taxation are as follows, except    a. It is a means of reducing…

A: The objectives of taxation includes: resource allocation income distribution price stability…

Q: the relative lack of government regulation is an advantage of corporate form of business true…

A: Corporate is the business organization distinct from its members having its own existence.

Q: fiscal

A: Introduction: Tax can be defined as mandatory levy by the government on the citizens of the country.…

Q: In which one of the following organization's expenditures are driven mainly by the ability of the…

A: The question is multiple choice question. Required  Choose the Correct Option.

Q: The government should tax itself? Yes or no

A: A tax is a sum of money that is must be paid to the government in order for it to provide public…

Q: What are not-for-profit corporations?

A: Definition  A nonprofit corporation is a business that exists for the public welfare rather than for…

Q: that without taxes, a government would be paralyzed for lack of power to activate and operate it,…

A: Taxes are levied by the government on their citizen in order to generate the income for the project…

Q: Sale of goods or services by any person or entity may result to the payment of income tax.

A: Option a is wrong because sale of goods or services itself does not result in the payment of income…

Q: (1) Do you agree that giving companies tax breaks forcharitable contributions distorts public…

A: Tax break refers to the method which results in decrease to the tax liability of the taxpayers and…

Q: Which of the following is not considered a purpose of taxation?    A. To regulate B. To make the…

A: Tax means the mandatory payment made by tax payer to the government without expecting anything…

Q: 1. Consider each of the following points of view and comment on how each point is valid and how each…

A: Corporate refers to the form of business that is identified separate from its members and has all…

Q: True or false, and explain

A: True. Taxing individuals to provide public goods increases the tax burden of all taxable…

Q: 1) Which of the following is not true? A) A not-for-profit entity operates for purposes other than…

A: A not-for-profit entity does not possess ownership interest like a corporation.

Q: How does the public good of accounting information lead to underproduction in a free market?

A: Accounting information is provided to the users in the form of annual Statement which includes…

Q: Even though reporting entities are required to comply with accounting standards, are they also…

A: The Accounting Standards provide the framework within which a firm prepares its books of accounts by…

Q: Distinguish between not-for-profit and for-profit corporations.

A: Corporation: A business concern where there is a separate legal entity, and are owned by…