is the exploitation by the taxpayer of legally permissible alternative tax rates or methods of assessing taxable property or income in order to avoid or reduce tax liability. a. Capitalization b. Shifting c. Evasion d. Avoidance
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t is the exploitation by the taxpayer of legally permissible alternative tax rates or methods of
assessing taxable property or income in order to avoid or reduce tax liability.
a. Capitalization
b. Shifting
c. Evasion
d. Avoidance
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Solved in 2 steps
- Is it possible to be used partly for public purpose and partly private purpose without violating the limitation that a tax must be for public purpose?A. No, the purpose shall either be private or public. It cannot be bothB. Yes, The purpose is not important as long as the tax of the property can be accounted forC. No, the purpose to be accomplished by taxation need not be exclusively public. To benefit private individuals will be tantamount to deprivation of property of those who paid the tax without due processD. Yes, The purpose to be accomplished by taxation need not be exclusively public. Although private individuals are directly benefited such as the victims of flood victims, the tax will be valid provided such benefit is only incidentalWhite booked a flight for a business trip with his company’s travel agent. He filled out two expense reports for this trip,and on each report, he requested reimbursement for the cost of the ticket. On one report,he attached his airline stub as support for the expense. On the other report, he attached the travel agency’s invoice as support.What kind of scheme was White attempting? a. A false billing scheme b. A mischaracterized expense scheme c. An overstated expense scheme d. A multiple reimbursement schemeThe difference between fraud and errors is: a. the timing of the transaction b. the materiality of the value involved. c. intent of those involved. d. whether it affects owners’ equity or not.
- Having recently made a fortune by inventing and selling a new piece of software, Matt heardthat his friend, Lois, was having a hard time obtaining a bank loan. Matt therefore generously promised the bank that he would be responsible for the debt if Lois failed to repay a loan. That promise will be enforceable against Matt if A) he provides a notarized copy to the bank B) Lois repeats Matt's promise in a document that she signed. C) either Lois or the bank provides some positive benefit to Matt personally D) the promise is contained in a document that Lois and the bank signed. E) he provides it to the bank in a signed document.Michael built a calculator (which graphs) using plans Michael found posted on the internet, but he unreasonably didn’t follow the plans when he constructed the calculator. Michael then sold the calculator to Jack who was injured when the calculator exploded because it hadn’t been built according to the plans. After the explosion Jack was taken to the Hospital emergency room (“ER”) where he signed a consent form authorizing Dr. Joe, the ER doctor, to perform a surgical procedure called Surgery X. But, instead Dr. Joe performed Surgery Y, a different procedure than Surgery X. A. What cause(s) of action should Jack use if he sues Michael for Jack’s injuries. Discuss. B. Has Joe, the ER doctor, committed any intentional torts? If so, discuss.Johnson and JohnsonThe company introduced various product safety, ingredient safety and product quality and safetymeasures to prevent the repetition of such an event. These measures are indicated in the sectionsthat follow:Product SafetyAs far as product safety is concerned, J&J ensures that every product that the company sells mustmeet their high standards of quality, safety and efficacy. Safety professionals at J&J companiesconduct through safety assessments as part of the detailed testing of quality, safety and effectivenessbefore any new product is introduced to the market. These professionals make assessments of eachraw material, to identify safe and effective ingredients, and the finished product, to ensure it worksthe way that it is intended to work. J&J also assesses their products after they have reached theirmarket in order to identify any safety issue that may occur.Ingredient safetyThe J&J companies buy and manufacture an array of raw materials, active…
- Johnson and JohnsonThe company introduced various product safety, ingredient safety and product quality and safetymeasures to prevent the repetition of such an event. These measures are indicated in the sectionsthat follow:Product SafetyAs far as product safety is concerned, J&J ensures that every product that the company sells mustmeet their high standards of quality, safety and efficacy. Safety professionals at J&J companiesconduct through safety assessments as part of the detailed testing of quality, safety and effectivenessbefore any new product is introduced to the market. These professionals make assessments of eachraw material, to identify safe and effective ingredients, and the finished product, to ensure it worksthe way that it is intended to work. J&J also assesses their products after they have reached theirmarket in order to identify any safety issue that may occur.Ingredient safetyThe J&J companies buy and manufacture an array of raw materials, active…Johnson and JohnsonThe company introduced various product safety, ingredient safety and product quality and safetymeasures to prevent the repetition of such an event. These measures are indicated in the sectionsthat follow:Product SafetyAs far as product safety is concerned, J&J ensures that every product that the company sells mustmeet their high standards of quality, safety and efficacy. Safety professionals at J&J companiesconduct through safety assessments as part of the detailed testing of quality, safety and effectivenessbefore any new product is introduced to the market. These professionals make assessments of eachraw material, to identify safe and effective ingredients, and the finished product, to ensure it worksthe way that it is intended to work. J&J also assesses their products after they have reached theirmarket in order to identify any safety issue that may occur.Ingredient safetyThe J&J companies buy and manufacture an array of raw materials, active…Johnson and JohnsonThe company introduced various product safety, ingredient safety and product quality and safetymeasures to prevent the repetition of such an event. These measures are indicated in the sectionsthat follow:Product SafetyAs far as product safety is concerned, J&J ensures that every product that the company sells mustmeet their high standards of quality, safety and efficacy. Safety professionals at J&J companiesconduct through safety assessments as part of the detailed testing of quality, safety and effectivenessbefore any new product is introduced to the market. These professionals make assessments of eachraw material, to identify safe and effective ingredients, and the finished product, to ensure it worksthe way that it is intended to work. J&J also assesses their products after they have reached theirmarket in order to identify any safety issue that may occur.Ingredient safetyThe J&J companies buy and manufacture an array of raw materials, active…
- Johnson and JohnsonThe company introduced various product safety, ingredient safety and product quality and safetymeasures to prevent the repetition of such an event. These measures are indicated in the sectionsthat follow:Product SafetyAs far as product safety is concerned, J&J ensures that every product that the company sells mustmeet their high standards of quality, safety and efficacy. Safety professionals at J&J companiesconduct through safety assessments as part of the detailed testing of quality, safety and effectivenessbefore any new product is introduced to the market. These professionals make assessments of eachraw material, to identify safe and effective ingredients, and the finished product, to ensure it worksthe way that it is intended to work. J&J also assesses their products after they have reached theirmarket in order to identify any safety issue that may occur.Ingredient safetyThe J&J companies buy and manufacture an array of raw materials, active…Johnson and JohnsonThe company introduced various product safety, ingredient safety and product quality and safetymeasures to prevent the repetition of such an event. These measures are indicated in the sectionsthat follow:Product SafetyAs far as product safety is concerned, J&J ensures that every product that the company sells mustmeet their high standards of quality, safety and efficacy. Safety professionals at J&J companiesconduct through safety assessments as part of the detailed testing of quality, safety and effectivenessbefore any new product is introduced to the market. These professionals make assessments of eachraw material, to identify safe and effective ingredients, and the finished product, to ensure it worksthe way that it is intended to work. J&J also assesses their products after they have reached theirmarket in order to identify any safety issue that may occur.Ingredient safetyThe J&J companies buy and manufacture an array of raw materials, active…Johnson and JohnsonThe company introduced various product safety, ingredient safety and product quality and safetymeasures to prevent the repetition of such an event. These measures are indicated in the sectionsthat follow:Product SafetyAs far as product safety is concerned, J&J ensures that every product that the company sells mustmeet their high standards of quality, safety and efficacy. Safety professionals at J&J companiesconduct through safety assessments as part of the detailed testing of quality, safety and effectivenessbefore any new product is introduced to the market. These professionals make assessments of eachraw material, to identify safe and effective ingredients, and the finished product, to ensure it worksthe way that it is intended to work. J&J also assesses their products after they have reached theirmarket in order to identify any safety issue that may occur.Ingredient safetyThe J&J companies buy and manufacture an array of raw materials, active…