drop box of the Department of Business Law and Taxation located on the fifth floor‚ east wing of Building 11 (Menzies Building). Electronic submissions will not be accepted. Submission of the assignment is mandatory. It is important that you retain a copy of your assignment for examination revision and until the results of this unit have been finalised and released to you. Penalties for Late Lodgement Failure to submit the assignment by the due date and time without an approved extension
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This document was created when the American colonist decided to declare their independence from England. A committee of delegates selected from each colony was appointed to write the declaration at the Second Continental Congress. These men consisted of John Adams‚ Benjamin Franklin‚ Thomas Jefferson‚ Robert Livingston‚ and Roger Sherman. The Declaration consists of three sections‚ the first was‚ “The Preamble”. The Preamble was discusses why the Continental Congress made up the Declaration‚ how
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engineered technology. Ideas of engineering are in fact in our bones and part of human nature and experience (Petroski preface). This statement by Petroski is the very basis of technocracy. With it one can claim that No‚ Science and Technology do not provide a base for Technocracy yet to be a technocrat is to be human. If we consider democracy or any other doctrine and compare it with this proclamation then we may argue that one in their everyday life is more
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federal income tax was established in 1913 and since then it has become so complex that it requires millions of Americans to seek professional help every year. In addition to that‚ an expensive federal bureaucracy is required to enforce and administer the tax. The tax law was created to provide programs and services to the people that people wouldn’t want to pay for themselves. And through the tax system‚ we pay for these services that the government provides us. As much as a tax system is needed
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A Corporate Fraud is defined as a set of Activities undertaken by a company or set of individuals that are done in a dishonest or illegal manner‚ and are designed to give an advantage to the perpetrating company or the individual. Corporate fraud schemes go beyond the scope of an employee’s stated position‚ and are marked by their complexity and economic impact on the business‚ other employees and outside parties. Corporate Frauds are becoming very inherent in the present era. A selected range of
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UNIVERSITY OF TECHNICAL EDUCATION BTEC HND IN BUSINESS (MANAGEMENT) ASSIGNMENT COVER SHEET NAME OF STUDENT REGISTRATION NO. UNIT TITLE ASSIGNMENT TITLE ASSIGNMENT NO NAME OF ASSESSOR SUBMISSION DEADLINE Unit12: Taxation Tax Environment and Personal Tax Liability 1 of 2 Maria McKenna 4 June 2013 I‚ __________________________ hereby confirm that this assignment is my own work and not copied or plagiarized from any source. I have referenced the sources from which information is obtained by me
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FEDERAL INCOME TAXATION OUTLINE Gross Income Gross Income Defined (§61) – except as otherwise provided‚ gross income means all income from whatever source derived‚ including (but not limited to) the following items: Compensation for services‚ including fees‚ commissions‚ fringe benefits‚ and similar items; Gross income derived from business Gains derived from dealings in property Interest Rents Royalties Dividends Alimony and separate maintenance payments Annuities Income from life
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1. If a CPA recklessly departs from the standards of due care when conducting an audit‚ she or he will be liable to unknown third parties based on a. strict liability c. negligence b. gross negligence d. breach of contract 2. Under the common law‚ which of the following statements most accurately reflects the liability of a CPA who fraudulently gives an opinion on an audit of a client’s financial statements? c. The CPA is liable only to third parties in privity of contract
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Definition of Tax Evasion: Tax evasion usually entails taxpayers deliberately misrepresenting or concealing the true state of their affairs to the tax authorities to reduce their tax liability and includes in particular dishonest tax reporting‚ such as declaring less income‚ profits or gains than actually earned or overstating deductions‚. It is an illegal practice where a person‚ organization or corporation intentionally avoids paying his/her/its true tax liability. Examples of practices which
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Companies that use the same standards to prepare their financial statements can be compared to each other more accurately. This is especially important when comparing companies located in different countries‚ as they might otherwise be using different rules and methodologies to prepare their statements. This increase in comparability has helped investors better determine where their investment dollars should go. Not Globally Accepted The United States has not yet adopted International Financial
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