selling goods or services directly to final consumers for their personal‚ nonbusiness use. a. Wholesaling b. Discounting c. Merchandising d. Retailing Answer: (d) Difficulty: (1) Page: 435 2. All of the following are examples of nonstore retailing EXCEPT: a. selling by mail. b. selling jewelry in a clothing store. c. door-to-door contact. d. selling goods on the Internet. Answer: (b) Difficulty: (1) Page: 435 3. A
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Q _ Tran Nam Quan: Blue Bui Minh Tri Quy : Task 1: Which of the following items are income: Rent from a residential rental property rented by a young family? yes‚ ordinary income under sec. 6-5 A birthday gift ? No A dividend from BP? Yes‚ Statutory income under sec.44(1) ITAA 1936 Wages and Salaries from your employer? Yes. Ordinary income under sec 6-5 Bank Interest Received? Yes‚ Ordinary income under sec 6-5(2) Your boss takes you out to dinner? No An allowance paid for
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In the preparation of financial statements there are different formats used. Whatever formats used the results will be the same. There is no prescribed format for the preparation of the income statement. The company should select a method of presenting its expenses by either function or nature; this can either be as encouraged‚ on the face of the income statement‚ or in the notes. There are accounting standards such as IFRS (International Financial Reporting Standards) and GAAP (Generally Accepted
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Since 1976 Black History Month has been a remembrance of the events in the history of the African American movement. It is celebrated annually in the United States and Canada in the month of February‚ and the United Kingdom in the month of October. In the U.S.‚ Black History Month is also referred to as African-American History Month. Black History Month actually started as Negro History Week in 1926 by Carter G. Woodson. The goal of Black History Week was to educate the American people about
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(Undertaking Format for Rectification/Correction/Alteration in Name on nonjudicial 10/- Rs. stamp paper duly notarized) To‚ The Director‚ Corporate Infocom Pvt. Ltd. 35‚ 2nd Floor‚ Patparganj Industrial Area‚ Delhi-110092. Sub: Rectification/Correction in Profile Name I‚ ________________‚ S/D of ________________‚ R/o __________________‚ do hereby solemnly affirm and declare as under:1. That I am resident of above said address. 2. That I have purchased a Web Package from your company named
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dedicated to adult learners. It is funded by the Wawasan Education Foundation‚ a tax-exempt entity established by the Malaysian People’s Movement Party (Gerakan) and supported by the Yeap Chor Ee Charitable and Endowment Trusts‚ other charities‚ corporations‚ members of the public and occasional grants from the Government of Malaysia. The course material development of the university is funded by Yeap Chor Ee Charitable and Endowment Trusts. © 2014 Wawasan Open University All rights reserved
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Chapter 2 problem 2-8‚ p. 79 The Wendt Corporation had $10.5 million of taxable income. a. What is the company’s federal income tax bill for the year? Answer: $10.5 x 0.35 = $525‚ 000.00 b. Assume the firm receives an additional $1 million of interest from some bonds it owns. What is the tax on this interest income? Answer: $1‚000‚000.00 x 0.35 = $350‚000.00 c. Now assume that Wendt does not receive the interest income but does receive an additional $1 million as dividends
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The primary advantage of a corporate form of business is that a corporation is a stand-alone entity‚ which means you are not personally liable for the assets and debts of the business. Incorporating protects your personal assets from lawsuits‚ debt collection and other business issues that can arise. The stand-alone entity also separates tax liabilities‚ which is another advantage. This means that the corporation’s taxes are separate from your personal tax liabilities. As a business
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History Income tax levels in India were very high during 1950-1980‚ in 1970-71 there were 11 tax slabs with highest tax rate being 93.5% including surcharges. In 1973-74 highest rate was 97.5%. But to reduce tax evasion tax rates were reduced later on‚ by "1992-93" maximum tax rates were reduced to 40%. [2][3] [edit]Residential status‚ Scope of taxable income & Charge [edit]Charge to Income-tax Whose income exceeds the maximum amount‚ which is not chargeable to the income tax‚ is an assesse
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What is a radio format? A radio format or programming genre refers to the overall content broadcasting over a radio station. Some stations broadcast multiple genres on set schedule. Over the years‚ formats have evolved and new ones have been introduced. NEWS BULLETINS News bulletins are too formal in language‚ structure and presentation Short sentences with facts and information are preferred for a bulletin National and international happenings get pride of place .Human stories and
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