Tax accounting is a service offered by public accounting firms that involves both tax planning and which of the following? Multiple Choice A.)tax compliance B.)tax avoidance C.)tax elimination D.)tax payment. Please explain incorrect and correct option without plagiarism
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Tax accounting is a service offered by public accounting firms that involves both tax planning and which of the following?
Multiple Choice
A.)tax compliance
B.)tax avoidance
C.)tax elimination
D.)tax payment. Please explain incorrect and correct option without plagiarism
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- What type of organization primarily offers tax compliance, auditing, and consulting services? A. corporations B. public accounting firms C. governmental entities D. universitiesTax functions that accounting and finance professionals may assist clients with include all but the following A. Tax compliance B. None of these O c. Tax evasion O D. Tax planning E. Cash management to ensure timely payment of taxesWhich is NOT a proper exercise of administrative feasibility?a. Electronic Tax Payment System (eTPS)/Land Bank Remittance System (LBRS)b. Payment of tax thru credit/debit/prepaid cards/G-Cashc. Requirement to all taxpayers to file tax returnsd. Substituted Filing of Qualified Compensation Income Earners
- This branch involves the preparation of tax returns and the rendering of tax advice to clients, such as determination and verification of tax consequences, the effect of taxes in the business operations, tax minimization through legal means, and the like. Select one: a. Financial accounting b. Auditing c. Fiduciary accounting d. Tax accounting Which of the following would be classified as external users of financial statements? Select one: a. The creditors and stockholders of the company b. The company marketing managers c. The controller of the company and a company's stockholders d. Stockholders and management of the company Accounting involves communication. Select one: a. False b. TrueWhich of the following users of accounting verifies accounting information to check the Tax compliance by the companies? a. Tax authority b. Regulatory agencies c. Management d. CreditorsUnder what responsibility would investigating tax fraud be? tax accounting, Financial Accounting, or managerial accounting
- Which of the following is the best definition of tax planning? Oa. Planning taxpayers' financial affairs to find the best way to avoid tax by successfully bending tax law Ob. Planning taxpayers' financial affairs in an effort to minimize tax liability Oc. Researching complex tax issues Od. Preparing a client's tax return Oe. None of these choices are considered tax planning.What work do tax accounting professionals perform in addition to preparing tax returns?Objective Question: What is a crucial step in the tax return process for businesses that involves identifying eligible expenses and activities to optimize their tax liability? Data collection and organization Compliance with tax laws Depreciation and amortization Strategic tax planning
- What type of organization primarily offers tax compliance auditing and consulting service A. Corporation B. Public accounting firms C. Government entities D. UniversitiesWhy are you learning tax accounting? Does your why in any way related to the business "why"? No plagiarism please.Distinguish between tax avoidance and tax evasion. What are the ethical responsibilities of the tax practitioner in dealing with tax avoidance? What are the ethical responsibilities of the tax practitioner in dealing with tax evasion?