Question 1: Jane’s salary of $230‚000 per year‚ covering both stand-by duties and normal duties‚ gives rise to assessable income.1 Nonetheless‚ her normal travel expenses from home to the place of employment or business are not deductible under Section 8-1 as such costs are not qualified to satisfy the positive limb of the general deductions provisions‚ that is‚ they are not sufficiently related to the production of assessable income.2 Rather‚ the normal travelling expenses are incurred because
Premium Expense Operating expense Travel
INCOME TAXATION 6TH Edition (BY: VALENCIA & ROXAS) SUGGESTED ANSWERS 127 Chapter 14: Income Taxes of Estates & Trusts CHAPTER 14 INCOME TAXES OF ESTATES & TRUSTS Problem 14 – 1 TRUE OR FALSE 1. False – P20‚000 2. True 3. True 4. True 5. True 6. True 7. False – It shall be in writing either as trust inter-vivos or through a will. 8. False – A trustor is the person who establishes the trust‚ not the trustee. 9. True 10. True 11. True 12. True Problem 14 – 2 TRUE OR FALSE 1. False – A taxpayer is
Premium Taxation in the United States Income tax Taxation
TAX ASSIGNMENT On Computation of taxable income of individual‚ HUF and firms COMPUTATION OF TAXABLE INCOME OF AN INDIVIDUAL What is included in income of an individual? While computing taxable income of an individual‚ the following points should be considered— Nature of income | Tax treatment | Income earned by the taxpayerShare of profit from a HUFShare of profit from a firm assessed as firmSalary & interest from the aforesaid firmShare of profit from an association of persons/body of individualsIncome
Premium Taxation Family Tax
in an integrated way so as to form the entire economy of the country . The importance of the role that each sector plays in the economies of countries differs from one country to another as a result of the strength or weakness of that sector. Regarding the UAE ‚ it is a country of a strong economy especially after the discovery of oil that has resulted in great changes in the UAE in different fields‚ and these changes covered the different areas of medical services‚ education for males and females
Premium Economy Tertiary sector of the economy United Arab Emirates
Tutorial – National Income Determination Question 01 Answer Parts (a) through (g) using the information in Figure 01 describing the Sri Lankan economy. Quantities are given in millions of Rupees. (a) Calculate gross private investment. (b) Calculate GDP. (c) Calculate gross national product (GNP). (d) Calculate net national product (NNP). (e) Calculate national income. (f) Calculate personal income. (g) Calculate disposable personal income. Figure 01 Gross private domestic investment 586.1 Compensation
Premium Gross domestic product Public finance Government spending
C (346) 1. ________ is the activity‚ set of institutions‚ and processes for creating‚ communicating‚ delivering‚ and exchanging offerings that have value for customers‚ clients‚ partners‚ and society at large. A. Selling C. Marketing B. Advertising D. Mixing Markets A (347) 2. The business philosophy of "produce as much as you can because there is a limitless market" is consistent with which of the following marketing eras? A. production era C. marketing era B. selling
Premium Marketing
Vitamin Types Sources Functions Effects of Deficiency RDA Properties C(ascorbic acid) - Blackcurrants Rosehip Strawberries Oranges Lemons Cabbage Tomatoes Potatoes Apples Pears Acts as an antioxidant ‚ prevents heart disease and cancer. Formation of collegen which unites cells as blood vessels‚ helps develop bones and teeth‚ helps white blood cells in fighting infections‚ prevents scurvy‚ necessary for the assimilation of non haem iron in the intestine. Scurvy rare in
Premium Vitamin C Blood
many decisions is that a. resources are scarce b. goods and services are not scarce c. incomes fluctuate with business cycles d. people‚ by nature‚ tend to disagree 2. Which of the following examples does not illustrate the principle represented by the adage‚ "There is no such thing as a free lunch"? a. Joe needs to pay his rent and his electric bill b. Pete must choose between buying a new flat screen television and buying his textbooks for this semester c. Kevin must decide between studying for his
Premium Economics
205 A‚ B and C A. Dear James‚ In my job as a Support worker I find my day to day work really fulfilling‚ it is enjoyable as I know I am making a difference in peoples lives. I support people in their homes to go about their lives and I have a duty of care to these people. This means I am responsible for their needs. It covers people who are physically disabled and cannot look after themselves. These people may require assistance with personal care‚ safety‚ meals and other medical or physical
Premium Law Negligence Tort
Acid Determination of Vitamin C Tablets and Salt Solutions Chem 1290-016 03-05-2010 ------------------------------------------------- Purpose: The purpose of this lab was to use acid-base titrations to find the mass percent of ascorbic acid in a Vitamin C tablet. A known concentration of sodium hydroxide was used and the value found was compared to the stated amount of ascorbic acid listed on the vitamin container. Also in this lab the acidity of different salt solutions were tested using
Premium PH indicator Base Acid