hat term describes initial taxation of profits at the company level, and subsequent taxation at the shareholder level? O federal and state level tax dispersion O double taxation of income O tiered dividend income/capital gains tax rates O pass through taxation O None of the listed selections are correct AMoving to another question will save this response.

hat term describes initial taxation of profits at the company level, and subsequent taxation at the shareholder level? O federal and state level tax dispersion O double taxation of income O tiered dividend income/capital gains tax rates O pass through taxation O None of the listed selections are correct AMoving to another question will save this response.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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True (t) or False (f) ______ The LIFO conformity rule requires that if a company uses LIFO for tax purposes, it must also use LIFO for financial accounting purposes.
a) Should preference shares be disclosed as 'equity' or as 'debt'? Response Click or tap here to enter text. b) 'Income tax shall be paid on taxable income times tax rate. It makes sense to pay income tax for current year, but we should not be asked to account for deferred tax assets and liabilities'. Do you agree with this statement? Discuss your arguments. Response Click or tap here to enter text. c) The financial reports must provide a true and fair view. Discuss this term 'true and fair view' and give examples how a company can meet this requirement. Response Click or tap here to enter text. d) Briefly discuss under what circumstances a company may be wound up. Response Click or tap here to enter text. e) If an event occurs 'after the reporting period', then from the perspective of accounting standards, it is considered that the event has occurred between the 'end of the reporting period' and the 'date when the financial statements are authorised for issue'. What is the 'date when…
The three leading candidates for best tax base are A. Income, consumption and wealth OB. Income, consumption and estates OC income, estates and wealth OD. Income, wealth and gifts Indicate whother the following statements are true (T) or false (F) When comparing an income and consumption as the base for tax, atention must be paid to whether or not the tax is progressive or regressive
Holding other factors constant, an increase in the tax rate on revenue generated by capital will: Group of answer choices not affect investment. increase business expenditure. decrease investment. increase investment.
Indicate whether the following statements are true or false. If the statementis false, explain why.d. The Tax Code encourages companies to pay a large percentage of theirnet income in the form of dividends.
A company uses the equity method to account for an investment for financial reporting purposes. This would result in what type of difference and in what type of deferred income tax? Oa. Type of Difference Permanent Ob. Ives of Difference Permanent Oc. Ives of Difference Temporary Od. Type of Difference Temporary Deferred Tax Asset Deferred Tax Liability Deferred Tax Asset Deferred Tax Liability
Is it possible for shareholders to defer or avoid the second level of tax on corporate income altogether? Briefly explain.
This answer is wrong . please give me the right answer.
Answer both in detail
The profit was first taxed in the corporate level and then taxed on the personal level. This is a. Unjust taxation b. Tiered taxation c. Double taxation d. Purposeful taxation
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What is an excess dividend? (RE&CF 4) Dividends that liquidate retained earnings Dividends that exceed investor expectations Dividends that terminate ownership Dividends that result in additional tax consequences