Special purpose governments differ from general purpose governments in that special purpose governments

Q: How fund structures and financial reports of not-for profit differ from those of governments?

A: Non-profit organizations: These are the organizations established not with the intention of earning…

Q: Among the inherent powers of the State: O Taxation is the most punitive and restricting. O Taxation…

A: Among the inherent powers of the state: Taxation constitutes the most direct form of equivalent…

Q: Describe the different taxes that government uses to collect revenue.

A: Describe the different taxes that government uses to collect revenue.

Q: Which is an incorrect statement regarding taxes? *       a. Taxes are necessary for the continued…

A: Taxes are the compulsory fees or financial charge imposed by the government on the taxpayers.

Q: Explain each of the following statements independently: a. Tax systems should be fair. b. The…

A: SOLUTION A- The Fair Tax Plan is a sales tax proposal to replace the current U.S. income tax…

Q: What are the key sources of revenues among the federal, state, and local governments? What are the…

A: Federal Government revenue comes from individual income taxes, corporate income taxes, and payroll…

Q: 1. The following defines taxation, except: *   a. It is an inherent power of the state. b. It is an…

A: Federal Tax: Federal tax is levied by US Federal government and paid to the national government. The…

Q: Briefly describe the service type activities that most general purpose governments perform?

A: Governmental accounting standard board is established in United States, used by the state and local…

Q: A “tax” has been defined as a compulsory payment which is made to a governmental authority and

A: Tax is a compulsory Charge which a Tax payer need to pay and its kind of levy which is imposed by…

Q: Governmental entities have one major advantage over nor-for-profit organizations, what is it? O a.…

A: Government entities are those that are operated by the government, are government affiliated and the…

Q: 39. The receipt of which of the following may not give rise to the revenue by a government entity?…

A: Revenues of the government entity means all income that is generated or received from outside by the…

Q: Revenue of the government is composed of tax and other source of income. * A. True B. False

A:

Q: ent must be both legally separate and fiscally independent. B. A primary government, although…

A: Primary Government: The primary government may be a state government, a general-purpose local…

Q: enient in terms of timing and payment

A: Introduction : In simple words, tax refers to the amount that an individual or an entity has to pay…

Q: Governments may be distinguished from not-for-profit organizations by:     Absence of profit motive…

A: All the organisations in the world can be classified into two categories. They are,  1. Profit…

Q: Which of the following is not an inherent power of a government?

A: The inherent power of a government are:- 1. Eminent domain  2. Police power 3. Taxation

Q: Among the inherent powers of the State: A. Taxation is the most punitive and restricting. B.…

A: Inherent powers of state refers to the information which is not written in the constitution and…

Q: Which of the following items is not recognized as revenue by a governmental unit? Group of answer…

A: Revenue refers to the amount collected through sales or services. Revenue can be generated on cash…

Q: Local Government Units, being limited in power, has the power to tax its constituents. Group of…

A: solution : Local Government Units, being limited in power, has the power to tax its constituents.…

Q: Governmental units have the right to seize property for nonpayment of taxes, but they are often…

A: Governmental units do have the right to seize property for nonpayment of taxes. Firstly interest and…

Q: The objective of a government is to provide services to its citizens a. True b. False

A: The public sector entities being established by the government of the particular state or city for…

Q: These are involuntary fees levied on individuals or corporations and imposed by the government…

A: Excise taxes are taxes levied on specified goods. These are indirect taxes that the consumer may not…

Q: Which among the type of taxes (national or local) do you think can be reduced, removed, or revised…

A: Taxes are an importance source of revenue for the governments to spend on infrastructure. But at the…

Q: Governments often provide goods and services to citizens or other governmental units at a fee.…

A: The list of funds are enumerated to aid the people and other organisations which are facing scarcity…

Q: You are trying to decide if an entity you are reviewing is a government or a not-for-profit. Which…

A: Governments are typically responsible for providing a wide range of public services to their…

Q: Taxation is NOT: a. A contribution for the support of a government required of persons, groups,…

A: Taxable income is the measurement of income which is used to calculate the amount of tax that needs…

Q: Which of the following is not an administrative remedy available to the government?

A: Answer: C.  Tax Avoidance

Q: MC: Topic: Income Taxation The following defines taxation, except: * It is an inherent power of…

A: Tax is the charge for having excess income. The government has provided the tax slabs by which…