Definition of Tax “Taxes are compulsory payment to government without expectation of direct return in benefit to the tax payer” According to section 2 (62) of the ITO (Income Tax Ordinance) 1984: “Tax means the income tax payable under ordinance and includes any additional tax‚ excess profit tax‚ penalty‚ interest‚ fees or other charges leviable or payable under this ordinance.” Characteristics of Tax i. Tax is a payment to the government by the people. ii. Payment of taxes is non-penal
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Income Inequality Gap Over the years America’s inequality income gap has been growing‚ between the rich and the poor. There are many reasons why this is happening. Andrew Carnegie‚ John Kenneth Galbraith and Joseph Stiglitz may agree with me‚ but believe there are different reasons why and how it should be dealt with. I would have to say that I agree that Galbraith’s idea is what is better for America now. In the essay “The Gospel of Wealth” Andrew Carnegie says that the rich should invest
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beginning of class. 2. “Consulting” solution manuals or prior years‟ assignments is academic dishonesty. So is discussing your homework assignments with any classmates. 3. Be prepared to explain your answers in class. Homework #1. INCOME MEASUREMENT AND ACCRUAL ACCOUNTING PRACTICE PROBLEMS What is a synonym for unearned revenue? Accumulated depreciation on the balance sheet equals depreciation expense for the year on the income statement. Do you agree? Why or why not? Cycloanalysts is a store
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An application of document clustering for Categorizing Open-ended Survey Responses Nishantha Medagoda‚ Ruvan Weerasinghe University of Colombo School of Computing Sri Lanka nmedagoda@yahoo.com arw@ucsc.lk ABSTRACT Open ended questions are an essential and important part of survey questionnaires. They provide an opportunity for researchers to discover unanticipated information regarding the domain of study. However‚ they are problematic for processing since they are unstructured questions to which
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Case IV: Arbitrage in the Government Bond Market Fixed income management (EBC4058) Tutor: Micheal Viehs Coordinator: Thomas Post Group C: de Vivo Paolo 6057152 Bing-Jun Zhu 6030493 Honglei Zhao 6051963 04/03/2013 INDEX I INTRODUCTION II BOND MARKET – A snapshot III TWO SYNTHETIC BONDS BUILD THE TWO SYNTHETIC BONDS PRICE OF THE SYNTHETIC BONDS IV HOW TO EXPLOIT THE ARBITRAGE OPPORTUNITY SPECULATING ON POSSIBLE REASONS V THE ADVANTAGES OF CALLABLE BONDS VI CONCLUSIONS VII PROBLEM SET
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Brussels: The Centre for European Policy Studies[Online] Available at: http://www.ibm.com/ibm/governmentalprograms/pdf/simglobe_fin_rep_en.pdf (Last consulted: 1st November 2014) Crabtree‚ James. 2012. Mumbai: Ft.com [Online] Available at: http://www.ft.com/intl/cms/s/0/bd8e769a-b53c-11e1-ab92-00144feabdc0.html (Last consulted 10/11/2014) Gary J. Wells‚ Robert Shuey‚ Ray Kiely. 2001. Globalization. New York: Nova Publishers. Jürgen Osterhammel‚ Niels P. Petersson. 2005. Globalization: A Short History New
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People seem to be less offended about age gap relationships when the man is older than when the woman is older (Beam). In “May-December Paradoxes: An Exploration of of Age Gap Relationships in Western Society‚” scholars Justin Lehmiller and Christopher Agnew found that men are typically older than women in Western relationships. These relationships typically attract little attention
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disposable income. B. Total consumer spending divided by total income. C. Disposable income divided by consumption. D. The change in disposable income divided by the change in consumption. 2) Assume a consumption function is C = 500 + .80 Yd. This means A. Consumers will save 80 cents out of each additional dollar in disposable income. B. Consumers will spend $500 in addition to current income. C. Consumers will spend $500 plus 80 cents out of each dollar of disposable income D. he marginal
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There are many factors that ended World War II; However‚ The bombs and the ship that dropped them were some of the most important. These bombs were known as the Fat Man and Little Boy‚ and the ship was the Boeing B-29 Superfortress “Enola Gay.” How does an explosive nuclear chain reaction happen? An explosive nuclear chain reaction happens when a plentiful quantity of nuclear fuel‚ such as uranium or plutonium‚ is brought to form a critical mass. The nuclear chain reaction begins when the neutrons
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Income Elasticity of Demand Income elasticity of demand may be defined as the ratio or proportionate change in the quantity demanded of a commodity to a given proportionate change in the income. In short‚ it indicates the extent to which demand changes with a variation in consumer’s income. Practical application of income elasticity of demand 1. Helps in determining the rate of growth of the firm. If the growth rate of the economy and income growth of the people is reasonably forecasted‚ in that
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