Discuss whether the following supply of goods andservices are taxable events in GST: 1. A companyhaving warehouse in Mumbai shifted some rawmaterial to its factory in Baroda 2. An Indian companyimported machinery from its parent company inGermany 3. The sale of factory premises and plant andmachinery installed in the factory

The objective of the question is to determine whether the given scenarios are taxable events under…

Answered: Discuss whether the following supply of…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Which of the following decision-making process does not require management discretion? a.Determining the level of provision for warranty b.making decisions about whether or not to adopt AASB in preparing financial statement in Australia c.Determining a useful life of property, plant and equipment d.Whether to use fair value or historical cost method to value buildings e.None of the above
Compare the duties and personal liabilities of directors and officers of a company within the United States and the EU
What is required for absolute purchasing power parity to hold? Do you think absolute PPP would hold in the case where a shoe retailer in the U.S. sits directly across the border from a shoe retailer in Canada? How about Houston, Texas, and London, England?
Companies following international accounting standards are permitted to revalue fixed assets above the assets’ historical costs. Such revaluations are allowed under various countries’ standards and the standards issued by the IASB. Liberty International, a real estate company headquartered in the United Kingdom (U.K.), follows U.K. standards. In a recent year, Liberty disclosed the following information on revaluations of its tangible fixed assets. The revaluation reserve measures the amount by which tangible fixed assets are recorded above historical cost and is reported in Liberty’s stockholders’ equity.Liberty InternationalCompleted Investment PropertiesCompleted investment properties are professionally valued on a market value basis by external valuers at the balance sheet date. Surpluses and deficits arising during the year are reflected in the revaluation reserve.Liberty reported the following additional data. Amounts for Kimco Realty (which follows GAAP) in the same year are…
Able Equipment entered into an arrangement to provide M. T. Bin Wholesale’s data center with Able’s newest server model. Due to security processes in place for its customer data, M. T. Bin requires access to the equipment and the ability to direct its use. Able can replace or reconfigure the equipment if Able finds it’s financially advantageous to do so. Does the contract contain a lease?
Tax Dilemma The income of any person, including a company, accruing in or derived from Malaysia or received in Malaysia from outside Malaysia is subject to income tax or in other words all individuals are liable to tax on income accrued in, derived from or remitted to Malaysia. April 30th is the deadline for the submission of income tax returns for the individual taxpayer without a business income in Malaysia, while June 30th is for those with business income in Malaysia. While reading the newspaper on tax issue reminded Lokman Hakim that he has not filled in his income tax form as yet. Tax computation has been a burden on Lokman’s shoulder and Siti Sarah has been talking and reminding Lokman to fill in his BE form before the deadline expires at the end of April. Lokman Hakim, age 32 years is currently working as a government officer in Sabah and brings home an income of RM4500 monthly. He is married to Siti Sarah, age 28 years, who is currently working as a lecturer in one of the…
1. Which of the following is not a source of international economic law? A ) Research articles published in journals B ) Municipal law C ) International model law D ) International trade customs 2. Which of the following law subjects or circumstance does not belong to private international law? A) AChinese company signed a contract with a British company B ) Carriage of goods by sea C ) A Chinese boy married a Japanese girl D ) War between Russia and Ukraine 3. Which of the following does not belong to NTBs? A ) ad valorem duty B.) Licenses C) Quotas D) This-side-up packing requirement Solve all question
Blaze Textiles uses the services of Paytym, an e-commerce firm, to handle its payment and delivery processes while exporting its garments. Which of the following forms of internationalization entry tactic has Blaze used when it chooses Paytym as its partner to accomplish its exporting activities? The entry tactic of buy The entry tactic of franchising The entry tactic of euke The entry tactic of ally
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The main law that guides trade and commercial transactions in the United States is: O The Tariffs and Trade Agreement O The Department of Commerce Rule Book O The Uniform Commercial Code O The Dodd-Frank Act
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