Assessable income=ordinary income + statutory income. Ordinary income: income deriving from the courts (s6-5) Negative propositions: items that are not income by ordinary concepts: 1.Amounts not convertible into money :In Tennant v Smith (1892) free accommodation provided to a bank manager was held not to be ordinary income because building could not be sub-let and the benefit thereby converted to money. In FCT v Cooke & Sherden (1980) an incentive prize offered by a manufacturer was not income of the
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Number: 10621841 Contents 1. Introduction 2. Definition and Measure of Inequality 2.1 Gini Coefficient 3. Recent trends in Inequality and Globalization 4.1 Cross-country comparisons of inequality 4.2 Income distribution within countries 4.3 Impact of Globalization on Inequality 4. Empirical Investigation 5.4 Key Factors on Inequality Improvement 5.5 Trade and Financial Globalization Impact 5.6 Conclusion of World Economic Outlook
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Case 9-23 1. a. Sales budget: April May June Quarter Budgeted sales in units 35‚000 45‚000 60‚000 140‚000 Selling price per unit × $8 × $8 × $8 × $8 Total sales $280‚000 $360‚000 $480‚000 $1‚120‚000 b. Schedule of expected cash collections: February sales $ 48‚000 $ 48‚000 March sales 112‚000 $ 56‚000 168‚000 April sales 70‚000 140‚000 $ 70‚000 280‚000 May sales 90‚000 180
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Electrical circuit is a path which electrons from a voltage or current source flow. Electric current flows in a closed path called an electric circuit. The point where those electrons enter an electrical circuit is called the "source" of electrons. The point where the electrons leave an electrical circuit is called the "return" or "earth ground". The exit point is called the "return" because electrons always end up at the source when they complete the path of an electrical circuit. The part of an
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ELECTRICAL ENGINEER DESCRIPTION “Electrical engineers design‚ and evaluate the manufacture‚ testing‚ installation‚ operation‚ and maintenance of electrical and electronic components‚ equipment and systems.”1 Electrical engineers work with an array of equipment and machinery‚ such as transformers‚ switches‚ electrical appliances and types of generators‚ and are considered in fields involving communications‚ radar‚ aerospace guidance‚ medical and biomedical research
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Electrical technology – assignment 4 Properties of electrical materials and Effective use of technology P.5. Describe the properties and a typical application of a solid and a liquid or gas electrical conductor. A conductor is a material that allows free movement of electrons and therefore allows easy flow of electricity. Most conductors are metals. A common metal used as a conductor in electrical technology is aluminium. It is used quite a lot as it cheap‚ lightweight and in abundance compared
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conveniently designed conductive disks allow the electrical load of the generator to be fed either with alternating current or direct current. the loop terminals is sinusoidal with zero mean value (Fig. 2). Its frequency is equal to the number of revolutions per second executed by the loop. Each terminal of the loop is connected to a metallic ring. The contacts with rings are made by means of fixed brushes. If the brushes are connected to an electrical load‚ an alternating current will be established
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Income Statement Income statements present an ordered list‚ grouped by broad categories of revenues and expenses. The income statement begins with revenues followed by a list of expenses. U.S. GAAP and IFRS requirements for the presentation of income statements are similar‚ with some important differences. *Other than separating revenues from expenses‚ U.S. GAAP provides little guidance about which items the firm must separately display or their order. IFRS requires‚ at a minimum‚ the
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Experiments By Tony R. Kuphaldt First Edition‚ last update January 18‚ 2010 i c 2002-2011‚ Tony R. Kuphaldt This book is published under the terms and conditions of the Design Science License. These terms and conditions allow for free copying‚ distribution‚ and/or modification of this document by the general public. The full Design Science License text is included in the last chapter. As an open and collaboratively developed text‚ this book is distributed in the hope that it will be useful‚ but
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Escareno Corporation has provided its contribution format income statement for June. The company produces and sells a single product. Sales (8‚400 units): ($) 764‚400 Variable expenses: ($) 445‚200 Contribution margin: ($) 319‚200 Fixed expenses: ($) 250‚900 Net operating income: ($) 68‚300 If the company sells 8‚200 units‚ its total contribution margin should be closest to: Merchandise with a sales price of $500 is sold on account with term 2/10‚ n/30. The journal entry to record the sale would
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