cost of goods sold for the above mentioned product under each of the following cost flow assumptions: a. First-in‚ first-out b. Last-in‚ first-out c. Average cost (round to the nearest rupee‚ except unit cost) Question 2: - Same three inventory valuation methods under periodic inventory system | Number of units | Cost per unit | Total Cost | Inventory – Jan 01 | 9 | Rs. 3.00 | Rs. 27.00 | Purchases 1 | 12 | 3.50 | 42.00 | Purchases 2 | 30 | 3.80 |
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2. Describe how these three branches are supposed to interact. The three forms of government‚ the Legislative‚ the Executive‚ and the Judicial branches interact with each other through the system called‚ check and balance. Check and balance allow the feral branches to check on one another to ensure that each branch has equal power over their citizens’ rights. This eliminates a branch from consuming too much power and becoming more dominant than the other branches. Each Branch is given their own specific
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INCOME TAX Introduction : The income tax is administrated Income Tax Ordinance‚ 1984 and the Income tax Rules‚ 1984 as well as notification made under the Ordinance. The charge of tax of a person depends on its resident ship. Total world Income of a resident is charged to tax in Bangladesh. Where as a non-resident’s Bangladesh income is only charged to tax in Bangladesh. There are seven heads of income. The are salary‚ interest on security‚ house property‚ agriculture‚ business and profession
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has been a tax avoidance arrangement‚ and also to outline the effect on a taxpayer if the tax avoidance arrangement exists. In order to meet the goal‚ this report followed steps from Draft Interpretations Statement to prove my opinions. Law: BG 1‚ YA 1‚ GA 1 of Income tax 2007‚ Penny and Hooper v Commissioner of Inland Revenue (2011) 3 NZTR 21-014. Ben Nevis Forestry Ventures Ltd & Ors v Commissioner of Inland Revenue; Accent Management Ltd & Ors v Commissioner of Inland Revenue (No 2) (2008)
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major source of mobilizing internal resources of an economy. Bangladesh revenue structure has been burdened by taxes from indirect sources for long time and usually characterized by heavy import and excise duties. To cope with the challenge due to globalization‚ government of many such countries has to cut down such duties and levies. It seems that government might have to collect more money either through VAT (Value Added Tax) or from direct taxes. In Bangladesh VAT introduced in 1991 by replacing
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------------------------------------------------- Group Project: Emmar Properties in Dubai‚ UAE (ENGG938) Engineering Economics Dr. Raid Al Amour Summer 2011 By: Ayman ElHalabi ID # 3162758 Fadi Deratani ID # 2462540 Mohammed Al Khanji ID # 3741242 Mohammad Nabil Ibrahim ID # 3517056 Table of Contents Executive summary 3 Case Description 3 Study Questions 4 Solution Assumptions 4 Scenario Analysis 11 Results Discussion 11 Conclusion
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Chapter 4 The Revenue Cycle Objectives for Chapter 4 • Tasks performed in the revenue cycle‚ regardless of the technology used • The functional departments involved in revenue cycle activities and the flow of revenue transactions through the organization • The documents‚ journals‚ and accounts that provide audit trails‚ promote the maintenance of records‚ support decision making‚ and sustain financial reporting • Risks associated with the revenue cycle and the controls that reduce these risks
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empirical research on tax evasion‚ delineating the variety of factors affecting noncompliance and examining possible remedies. Particular emphasis is placed on the institutional and procedural rules governing the tax enforcement policy. JEL classification: K34 Keywords: Tax Enforcement‚ Compliance‚ Taxpayer’s Behavior‚ Tax Gap 1. Introduction Tax evasion is said to occur when individuals deliberately fail to comply with their tax obligations. The resulting tax revenue loss may cause serious
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ImRetiree Preference is towards 3% tax on retail sales. The ratio of tax distribution is most equitable in retail tax. I believe that every individual is responsible for contributing to the nation’s tax revenue despite age‚ but I believe that retirees should have the least contribution as they have already paid their dues to society from all the years they have previously worked. With this in mind‚ the retail tax is the fairest solution due to it being the most equal in distribution. Each group
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Tax Research Exercise 1 1) 147(c)(2)(C)(iii)Insolvent farmer.—For purposes of clause (i)‚ farmland which was previously owned by the individual and was disposed of while such individual was insolvent shall be disregarded if section 108 applied to indebtedness with respect to such farmland. 2) Federal Tax Regulations‚ Regulation‚ §1.351-1.‚ Internal Revenue Service‚ Transfer to corporation controlled by transferor Click to open document in a browser Reg. § 1.351-1 does not reflect P
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