ACCT 330 – TEST 2 CHAPTER 6 – DEDUCTIONS AND LOSSES Criteria for deducting business and investment expenses – must be… * Related to a profit-motivated activity of the taxpayer * Ordinary‚ necessary‚ and reasonable in amount * Properly documented * An expense of the taxpayer Expenditure is not deductable if it is… * A capital expenditure * Expense related to tax-exempt income * Illegal or in violation of public policy‚ or * Specifically disallowed by tax law Business
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Mercantilism – colony exists to benefit mother country; Brit gave naval protection Indirect tax – you don’t know you’re taxed Colonies haphazardly placed Prime Minister George Grenville enforced Nav Laws: 1. Imperial trade done on Brit ships w/ ¾ crew British; 2. Only certain goods exported to foreign countries unless they go through Britain; 3. Economic diversification; 4. Colonies a protected market for low price consumer goods Sugar Act- raise tax on molasses; Woolen Act- banned export of
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NOTES IN TAXATION Taxation- process or means by which the sovereign‚ through its lawmaking body‚ raises income to defray necessary expenses of the government; power of the State‚ inherent in sovereignty -indispensable and inevitable price for civilized society‚ without taxes‚ government would be paralyzed. Taxes- lifeblood of the government and their prompt and certain availability are an imperious need. Objectives of Taxation: Shifting wealth from the rich to the poor Maintaining
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Chapter 8 SECTION 1 MULTIPLE-CHOICE QUESTIONS: 1. Psychologists use the term _________ to refer to the ability to store and retrieve information over time. The process of acquiring and using knowledge is called ________. a. learning; perception b. memory; perception c. learning; cognition d. memory; cognition Answer: d; Moderate 2. Psychologists use the term _________ to refer to the ability to store and retrieve information over time. a. learning b. memory c. cognition d. perception Answer:
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1. The hip joint allows a greater freedom of movement than the shoulder joint. [pic][pic]A) True [pic]B) False Feedback: Correct Feedback: correct Incorrect Feedback: incorrect |Points Earned: |1.0/1.0 | | |Correct Answer(s): |False | [pic] [pic][pic][pic][pic] 2. Which of the following best describes the causes of common forms of arthritis? [pic][pic]A) Rheumatoid arthritis is an autoimmune disease and osteoarthritis is caused by effects of aging
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Homework 1 – GMGT 590 Q 3.5 | Step 1: Cut | Step 2: Put Grilled Stuff on Bagel | Step 3: Veggies on Bagel | Step 4: Cream Cheese | Step 5: Wrap | I | 1 | 1 | 1 | 1 | 1 | T | 3 min | 10 min | 5 min | 4 min | 2 min | R | 0.333333333 | 0.1 | 0.2 | 0.25 | 0.5 | % | 100% | 16.67% | 77.78% | 22.20% | 100% | ADJ R | 0.333333333 | .5999 | 0.2571 | 1.126 | 0.5 | | | | | | | Total Bagel | 180 | 100.00% | | | | Grilled Veggie | 30 | 16.67% | | | | Veggie Only |
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Adam Smith’s Four Main Canons of Taxation ↓ A good tax system is one which is designed on the basis of an appropriate set of principles (rules). The tax system should strike a balance between the interest of the taxpayer and that of tax authorities. Adam Smith was the first economist to develop a list of Canons of Taxation. These canons are still regarded as characteristics or features of a good tax system. Adam Smith gave following four important canons of taxation. 1. Canon of Equity The principle
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INTRODUCTION 1)Several specialized forensic fields are devoted to studying biological evidence at a crime scene. One of these fields is forensic palynology‚ the study of pollen and spore evidence to help solve criminal cases 2)A spore is another kind of reproductive structure that can develop into an adult that is found in certain protists (algae)‚ plants‚ and fungi 3)The use of both pollen and spores in forensic studies is based on Locard’s principle of exchange POLLEN PRODUCERS 1)Knowledge of
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Chapter 8 Section 1 -In 1789‚ the American people had a new Constitution. They also had a new Congress and their first President. -The United States was one fourth of its size today. All thirteen states were in the East. -The nation’s western border followed the Mississippi River. In the North‚ the Great Lakes formed much of the border separating the United States from British-controlled Canada. -In the South‚ the United States bordered on Spanish-controlled Florida and Louisiana. -In April of
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Taxation in the Philippines From Wikipedia‚ the free encyclopedia Jump to: navigation‚ search This article needs more links to other articles to help integrate it into the encyclopedia. Please help improve this article by adding links that are relevant to the context within the existing text. (May 2013) Taxation An aspect of fiscal policy Policies[show] Government revenue Tax revenue Non-tax revenue Tax law Tax bracket Tax threshold Exemption Credit Deduction Tax shift Tax cut Tax holiday Tax
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