Identify which taxes apply to the following situations and state whether the tax is direct or indirect (a) A sole trader earns £100,000 profit in a year (b) A company has profit of £250,000 in a year and employs 30 employees (c) An individual sells an antique table for £100,000 which cost £40,000 eight years ago (d) A business buys raw materials from a supplier (e) A company sells a factory for £750,000 bought for £250,000 three years ago (f) An individual dies and bequeaths his estate of £1,000,000 to his children

Identify which taxes apply to the following situations and state whether the tax is direct or indirect (a) A sole trader earns £100,000 profit in a year (b) A company has profit of £250,000 in a year and employs 30 employees (c) An individual sells an antique table for £100,000 which cost £40,000 eight years ago (d) A business buys raw materials from a supplier (e) A company sells a factory for £750,000 bought for £250,000 three years ago (f) An individual dies and bequeaths his estate of £1,000,000 to his children

EBK CONTEMPORARY FINANCIAL MANAGEMENT

14th Edition

ISBN:9781337514835

Author:MOYER

Publisher:MOYER

Chapter2: The Domestic And International Financial Marketplace

Section2.A: Taxes

Problem 3P

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