...Chapter 01 An Introduction to Tax True / False Questions 1. | Taxes influence many types of business decisions but generally do not influence personal decisions. True False | 2. | Taxes influence business decisions such as where a business should locate or how a business should be structured. True False | 3. | Tax policy rarely plays an important part in presidential campaigns. True False | 4. | Margaret recently received a parking ticket. This is a common example of a local tax. True False | 5. | George recently paid $50 to renew his driver's license. The $50 payment is considered a tax. True False | 6. | A 1% charge imposed by a local government on football tickets sold is not considered a tax if all proceeds are earmarked to fund local schools. True False | 7. | One key characteristic of a tax is that it is a required payment to a governmental agency. True False | 8. | Common examples of sin taxes include the taxes imposed on airline tickets and gasoline. True False | 9. | One benefit of a sin tax (e.g., a tax on cigarettes) is that it should increase the demand for the products being taxed. True False | 10. | In addition to raising revenues, specific U.S. taxes may have other objectives (e.g., economic or social objectives). True False | 11. | The two components of the tax calculation are the tax rate and the taxpayer. True False...
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...Alternate Fuel Edgar Castillo COMM 215 1/31/2013 Ms. Diana Ferrell Alternate Fuel The world is familiar with the possibility and real results of polluting the environment. The ongoing destruction of nature is a subject of great concern. One of the types of pollution regarded as responsible for global costs rising is air pollution. The supplies of petroleum across the world are limited. As petroleum supplies start to decrease, it will also become tougher to get what remains. Alternate fuel automobiles are the trend of our future, because now a days gasoline prices are at an all-time high. The United States' dependency on foreign oil is also at an extremely high level. Hybrid Electrical Vehicles (HEV) operate from a mix of an internal combustion engine and an electric motor. A few advantages of hybrid electric automobiles are better gas mileage, eco friendly and less depending on foreign oil. HEVs can go 40-70 miles for each gallon of gas. HEV allows the driver to travel much longer without needing to fill up the automobile with gas, which also permits savings on gas. This will assist decrease the country’s reliance on foreign oil. This is an advantage because it encourages self sufficiency for the nation. It can also save money in the overall budget for the country. HEVs assist the atmosphere by not liberating as much toxin filled exhaust into the air. Each day we notice how the auto producers are coming with various kinds of hybrid cars as creative types of fuel. Toyota...
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...Educational assessment is the process of documenting, usually in measurable terms, knowledge, skill, attitudes, and beliefs. Assessment can focus on the individual learner, the learning community (class, workshop, or other organized group of learners), the institution, or the educational system as a whole (also known as granularity).[citation needed] The final purpose of assessment practices in education depends on the theoretical framework of the practitioners and researchers, their assumptions and beliefs about the nature of human mind, the origin of knowledge, and the process of learning. Alternate meanings According to the Merriam-Webster online dictionary the word assessment comes from the root word assess which is defined as: 1. to determine the rate or amount of (as a tax) 2. to impose (as a tax) according to an established rate b: to subject to a tax, charge, or levy 3. to make an official valuation of (property) for the purposes of taxation 4. to determine the importance, size, or value of (assess a problem) 5. to charge (a player or team) with a foul or penalty to evaluate something or someone Assessment in education is best described as an action "to determine the importance, size, or value of."[1] Types The term assessment is generally used to refer to all activities teachers use to help students learn and to gauge student progress.[2] Though the notion of assessment is generally more complicated than the following categories...
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...the draft Direct Tax Code (‘DTC’) along with a Discussion Paper in August 2009 for public comments. Various stakeholders have provided their feedback and the Government subsequently released a Revised Discussion Paper in June 2010 addressing some of the key concerns on the DTC. The DTC would replace the existing direct tax legislation constituted by the Income Tax Act, 1961 and the Wealth Tax Act, 1957 with effect from April 1, 2011. It aims to simplify the language with an intention to remove uncertainty in interpretation of the tax law and mitigate undue litigation. While most of the provisions in the DTC meet these objectives, there are certain provisions relating to Minimum Alternate Tax (‘MAT’), General Anti-Avoidance Rules (‘GAAR’) and Determination of Residential Status of Foreign Corporate, which could have adverse and undesirable consequences. This term paper provides an overview of the key proposals in the DTC and their impact on both domestic and international businesses in India. Introduction The compatibility and conduciveness of a taxation system plays an important lubricating role in the overall growth and direction of an economy. Tax laws are often seen not as a mere framework for the government to collect revenues, but as an effective tool to direct and propel the economy to higher levels, more so in a developing economy like Indian economy. The government of India proposed several changes in the tax system from time to time. The new Direct Tax...
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...Multi-Org Profile Options 1 AP: Choose Set of Books 2 PO: Define Inventory Organization Parameters 3 AP: Define Financial Options 4 AP: Define Expense Report Templates 6 AP: Define Payables Options 7 AP: Define Banks 10 AP: Define New AP Signing Limits 13 AP: Define Tax Codes 14 AP: Define Tax Groups 15 AP: Define Tax Reporting Entities 16 OIE: Define iExpense Policies 17 Enable Expense Allocations 17 Set Up Required Expense Fields 18 Define Receipt Notification Rule Set 19 Assign Receipt Notification Rule Set 20 Define Mileage Rate Schedule 21 SA: Set OIE Profile Options 23 AR: Define AR System Options 24 AR: Open Accounting Periods (Required) 28 AR: Define AutoAccounting 29 AR: Define Transaction Types 32 AR: Define Transaction Sources 33 AR: Define Remittance Banks 34 AR: Define Receivables Activities 35 AR: Define Receipt Classes and Payment...
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...County Cook Jail and the county’s Temporary Detention Center. Ms. Preckwinkle says as she was giving her budget address to a group of commissioners, “detaining defendants in jail while they await trial is very expensive for the county and is detrimental to our communities” (1). For the purpose of this paper the focus will be on the incarceration of children ages 10-18 and how such can be not only detrimental to communities but also to societies and our economy.Something has to change, for some time now a large part of the United States population has bought into the whole concept of placing children who break the law in juvenile correctional facilities. As tax payers we must come to the realization that something needs to change if we want these troubled youth to have a bright future ahead of them and become law-abiding tax payers. As a country we are spending billions of dollars buying into this whole concept of incarcerating young people, while research shows it is ineffective on rehabilitating the lives of juvenile offenders. Richard A. Mendel reports that a number of studies actually show that the incarceration of juveniles, “actually increases recidivism among youth with lower-risk profiles and less-serious offending histories” (6). In order to put an end to this epidemic of just locking kids up and costing taxpayers billions of dollars we must use some alternative methods when dealing with juvenile offenders. If we want to build a stronger economy for the future we must...
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...quality of life for children by improving the transit systems of Winnipeg. (I.e busses, and a support for cycling.) Ouellette claims that this will allow for the children of Winnipeg to enjoy Winnipeg and its culture. Ouellette is also planning on improving housing and and reducing poverty rates. With Winnipeg already having a high child poverty rate Ouellette makes this one of his main sub-goals for this project. Ouellette is also attempting to lower the voting age of the city allowing peoples under the age of 18 to feel like they are contributing to the city in a significant way....
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...Decision to be made Mountain Man Brewing Company is a family owned business that brewed one beer, Mountain Man Lager, also known as “West Virginia's beer”. Mountain Man Lager held the top position among lagers in West Virgina for almost 50 years and had respectable market share in most states. The company over the years relied on its history and its status as an independent, family owned brewery to create an aura of authencity and position the beer with its core drinker – blue collar, middle to lower income men over age 45. However, Mountain Man Lager was a legacy brew in a mature business. By 2005 Mountain Man generated revenue of just over $50 million and primarily distributed Lager in Illionis, Michigan, Ohio and its native West Virgina. However, the recent changes in the beer drinkers' preferences, the company is experiencing decline in sales. Over the previous six years light beer sales in the United States had grown at a annual rate of 4% while traditional premium beer sales had declined annually by same percentage. With this on going trend Mountain Man Brewing Co. was set to loose 2% each year annually, see section A. for projections for next 4 years. In the lights of such industry trend Chris Prangel, needs to decided whether to produce Mountain Man Light, a light beer formulation of Mountain Man Lager, in the hopes of attracting younger drinkers to the brand. Alternatives Mountain Man Brewing Co. has been facing serious challenges from maturing market and new...
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...I. SUMMARY Timothy Jones, co-owner of Dolores Garcia of New Century Health Clinic, asked for an information system that will support the said clinic’s operation and future growth. You are required to prepare an information system of its office staff. Information regarding New Century Health Clinic are the following: 1. Six(6) office staff workers 1. Anita Davenport - Office manager 2. Fred Brown - Handler of office payroll, tax reporting, and profit distribution 3. Susan Gifford - Responsible for maintenance of patient records 4. Tom Capaletti - Handles paperwork of insurance reporting and accounting 5. Lisa Sung - Responsible of appointment book, reminder calls and daily appointment lists. 6. Carla Herrera - Ordering and organizing office and clinic supplies Note that all members of the staff help out whenever necessary with patient records, insurance processing, and appointment processing. In addition to their regular responsibilities, all office workers are involved in the preparation of patient statements at the end of each month. II. PROBLEM STATEMENT An organization requires a lucid organization chart which would show the flow of responsibility from management, down to its employees. In the case of New Century Health Clinic, having no organization chart is not only the problem. There is an improper assignation of job responsibility of the employees which could cause undesired disasters. Ignoring this problem will remove accountability...
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...------------------------------------------------- A Study for Implementation of Electronic Government upervisor Name: Stephen Gibbs Student Name: ALMABROK ALHUMRY ID Number: 1072062 Word Count: 17,711 Table of Contents Acknowledgements 5 Abstract 7 1. Chapter One: Introduction 9 1.1 Introduction 9 1.2 Research Title 10 1.3 Research Question 10 1.4 Aims of Research 10 1.5 Research Background 10 1.6 Research Scope and Limitations 11 1.7 Research Objectives 12 1.8 About Libya 13 2. Chapter Two: Literature Review 14 2.2 E-Government Benefits 14 2.3 E-Government for Developing Countries 16 2.4 Characteristics of Electronic government Services 17 2.5 E-Administration___ A part of e-government 18 2.6 Existing Administration System of Libya 19 2.8 E-Government in Libya 26 2.9 ICT Knowledge in Libya 28 2.10 E-Government Problems in Libya 30 2.12 Stages of E government Development 32 2.17.2 Training Public Employees for E-Government 41 2.18 Risks associated with E-government 42 2.19 Summary of Literature Review 42 3. Chapter Three: Research Methodology 48 3.1 Research Design 48 3.2 Research Methodology 49 3.3 Conceptual Framework 50 4. Chapter Four: Research Analysis 63 4.1 Research Limitation 63 4.2 Analysis Plan 64 4.3 Analysis of Employees Questionnaire 65 4.3 Analysis of Citizens Questionnaire 90 Do you know the use of computer? 90 Do you know the usage of internet? 92 Do you have the facility of internet at home? 94 5. Chapter...
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...Unit 5 individual project Tax and Social Contracts of India Assignment : Understanding a culture is not as easy as characterizing it based on common behaviors. In fact, a culture can be defined in a multitude of ways. One way is by examining how the people interact with their governing body. The goal of this assignment is to choose one culture and explore its “social contracts”. Please write a three to four page essay, (cover page and work cited page not included) answering the following questions: • Describe the chosen culture in terms of its social, political and economic structure. • Explain how this cultures development has been effected by its “social contract” over time. Tax and Social Contracts of India The Direct Tax Code proposes to cut through the maze of tax laws, starting on a new slate towards overall objectives of growth and equity. The core idea is to expand the tax base to increase the tax to GDP ratio, even while keeping per capita tax liability low. The tax base should rise as compliance costs, exemptions, and resulting arbitrage-induced inefficiencies fall. Clear simple writing should reduce ambiguity and litigation. A sharp shifting up of tax slabs is the carrot provided to swallow the stick of vanishing exemptions. The Code which will be applied as of 2011, has been put out for comments. It has a chance if discussions succeed in hammering a new social contract. Low rates and minimum exemptions would work if everyone pays, and the State...
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...How to analyse a market for investment point of view ? * The most important point is the govt incentives. Theses may include- 1. FiTs- Feed-in-Trade If you are eligible to receive FITs you will benefit in three ways: * Generation tariff: your energy supplier will pay you a set rate for each unit (or kWh) of electricity you generate. Once your system has been registered, the tariff levels are guaranteed for the period of the tariff (up to 20 years) and are index-linked. * Export tariff: you will get a further 4.77p/kWh from your energy supplier for each unit you export back to the electricity grid, so you can sell any electricity you generate but don't use yourself. This rate is the same for all technologies. At some stage smart meters will be installed to measure what you export, but until then it is estimated as being 50 per cent of the electricity you generate (only systems above 30kWp need to have an export meter fitted, and a domestic system is unlikely to be that big). * Energy bill savings: you will be making savings on your electricity bills because generating electricity to power your appliances means you don’t have to buy as much electricity from your energy supplier. The amount you save will vary depending how much of the electricity you use on site. 2. VGF- Viability Gap funding VGF is typically provided in competitively bid projects. Under VGF, the central government meets up to 20% of capital cost of a project being implemented in public private...
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...present return is worth more than a peso of future return. 5. Choose the investments that will maximize the total net present value of the projects subject to the capital availability constraint. 4. The major classifications as to purpose are: 1. Replacement projects - those involving replacements of worn-out assets to avoid disruption of normal operations, or to improve efficiency. 2. Product or process improvement - projects that aim to produce additional revenue or to realize cost savings. 3. Expansion - projects that enhance long-term returns due to increased profitable volume. 5. Greater amounts of capital may be used in projects whose combined returns will exceed any alternate combination of total investment. 6. No....
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...Ross et al.: Fundamentals of Corporate Finance, Sixth Edition, Alternate Edition III. Valuation of Future Cash Flows 8. Stock Valuation © The McGraw−Hill Companies, 2002 273 CHAPTER Stock Valuation 8 When the stock market closed on July 3, 2001, the common stock of McGrawHill, publisher of fine-quality college textbooks, was going for $67.40 per share. On that same day, stock in General Motors (GM), the world’s largest automaker, closed at $64.72, while eBay, the on-line auction company, closed at $69.16. Since the stock prices of these three companies were so similar, you might expect that the three companies would be offering similar dividends to their stockholders, but you would be wrong. In fact, GM’s annual dividend was $2.00 per share, McGraw-Hill’s was $0.98 per share, and eBay was paying no dividends at all! As we will see in this chapter, the dividends currently being paid are one of the primary factors we look at when attempting to value common stocks. However, it is obvious from looking at eBay that current dividends are not the end of the story, so this chapter explores dividends, stock values, and the connection between the two. I n our previous chapter, we introduced you to bonds and bond valuation. In this chapter, we turn to the other major source of financing for corporations, common and preferred stock. We first describe the cash flows associated with a share of stock and then go on to develop a very famous result, the dividend growth...
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...7. Finance 8. Human Resources 8. Sales & marketing 3 FEW BASIC IDEAS PROCUREMENT IT CAN BE DIVIDED INTO TWO MAJOR GROUP A. PRODUCT B. SERVICES Raw material purchases constitute around 60-65% of the cost of product; hence any savings on this front would be significant for profit of the organization. 4 1. BULK BUYING: A. The company which has units spread across the geography can negotiate better price when the volumes are high, instead of buying for individual units its recommended to have central buying policy. B. You can negotiate better price if you can put your entire annual consumptions to a vendor and ask him for annual rate contracts. Bulk buying should be supported by bulk handling and storage system. 2. OPPORTUNITY BUYING: Most of commodities and raw material has seasonal Cycle of prices they peak and fall in intervals hence you have to look for the lowest price to buy in bulk and get the price advantage. 5 3 LOCAL VENDORS: Vendors should be located in close vicinity of the manufacturing area that helps lower freight charges and keeping low inventory. Only when it becomes economical to source from international market .eg crude oil from Middle east, Palm oil from south east Asia . 4. PARTNERSHIP WITH VENDORS: It is highly recommended to...
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