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What type of tax is paid directly to the government by the person or business entity on what it is imposed?
Wiki User
∙ 10y ago
direct tax
Wiki User
∙ 10y ago
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Which amendment explains the government entity that has the authority to levy taxes?
16th
Which entity often proposes new foreign policy ideas?
the federal government
Which entity within the federal government is responsible for managing the military?
The department of defense
Which entity of the government receives all legislative powers?
Congress is vested with the power to make all laws.
Which entity is most responsible for approving new school curriculum policies and providing funding for schools?
a local government
What is a direct tax?
A tax, such as an income or property tax, levied directly on the taxpayer.Income tax is a direct tax. Individuals and businesses pay direct taxes to the government on a regular basis and it is calculated on all sources of income accrued by the business or individual.
What is an economic event or condition that directly changes an entity's financial condition or directly affects its results of operations?
A Business Transaction ;)
Is the US-Government considered a business?
No. A business is fundamentally a "for profit" entity. The US Govt can engage in transactions with businesses, and can even allow itself to be sued as a result of those transactions. However, the US Government is wholly different sort of entity.
A business entity that is a separate taxable entity is called what?
Business Entity Concept
What does a government corporation do?
A government corporation does a number of things but it is mainly tasked with the role of providing government services. This is a business entity which is fully or party owned by the government.
Explain business as an entity?
The business entity convention in accounting distinguishes the business from any other accounting entity. So the accounts of the owners are kept separate from those of the business.
What is business entity principle?
According to business entity rule of basic accounting principles "Business itself is a separate entity then it's owners or shareholders and both are not same.
What is a non consolidated entity?
A non consolidated entity is a firm directly or indirectly controlled by a parent company. This happens when a parent has no actual control of the subsidiary, or if the parent company's business operations are different than that of the subsidiary
What is economic entity assumption?
Economic entity assumption is an assumption under the Generally Accepted Accounting Principles that separates the stakeholders from the business itself. The business is its own entity. Economic entity assumption is an assumption under the Generally Accepted Accounting Principles that separates the stakeholders from the business itself. The business is its own entity.
Distinguish between legal entity and accounting entity?
An accounting entity is the economic unit, the business that is being accounted for and not necessarily a legal entity (Sands J 2002). I currently manage and submit accounting reports for a business unit within the company I work for, the business unit is an accounting entity with retained earnings, assets, etc... however the business unit is not in itself a legal entity, it is a department within a legal entity.
What is cooperation charter in business?
A corporation charter is the legal document that converts a sole proprietorship or a partnership into a legal entity. It is issued by the government.
What is mean by strong entity?
A strong entity is any powerful force or presence, whether it is meant to mean some sort of deity, a high power such as a government or a business, or even an individual or group, etc.
