What are the two particular business structures have evolved in response to liability issues and tax Treatment?

Q: What work do tax accounting professionals perform in addition to preparing tax returns?

A: Accounting is an important aspect for any business. Without proper accounting, the business owners…

Q: discuss eac

A: The three primary sources of tax law are statutory sources, administrative sources, and judicial…

Q: Which of the following task is facilitated by Taxation Accounting? a. Tax preparation and tax…

A: Taxation accounting refers to the rules and policies, regulations used to generate tax assets and…

Q: business taxation.

A: Business taxation  is about taxing the business. This is a term associated with the normal business…

Q: What is the depreciation method that is used for tax accounting purposes? How is it different than…

A: Accelerated depreciation method:

Q: What events create permanent differences between accounting income and taxable income? What effect…

A: Introduction: Accounting income is profit calculated using the accrual method of accounting.…

Q: Differentiate the accounting measurement of current tax liability and current tax asset from…

A: Tax is the charges levied by the central and state government on the net income, sale or capital…

Q: what is tax accounting?

A:

Q: Which of the following is a characteristic of tax? b. a. The amount to be collected is limited to…

A: Here discuss about the details of the characteristic of the taxes as well.  There are some district…

Q: What is the main principle of tax-effect accounting as outlined in AASB 112/IAS

A: Answer: According to data - This report discusses the main principle of tax effect accounting and…

Q: explain two rationale for changing basis period by companies from tax perspectives

A: Changing the basis period of companies is the change in the accounting date of the company which…

Q: When selecting the most appropriate choice of business structure, some elements to consider are: A.…

A: Business structure is the outer framework of the business i.e. how the business is incorporated,…

Q: What is corporate income tax and value added tax and its use?

A: Both corporate income tax and value added tax are taxes that have to be paid to the government. The…

Q: What does the term​ "hazards of​ litigation" mean in the context of​ taxation?

A: Tax:   A tax is a compulsory charge or a levy imposed upon a taxpayer by a government organization…

Q: How do the tax laws and financial accounting standards differ?

A: Financial Reporting:   Financial reporting is the process of disclosing the financial results of the…

Q: . What is the possible treatment for tax purposes of a net operating loss? What is the proper…

A: Net operating loss: When the level of income is less than the expenses for a given or a considered…

Q: similarities between income taxation and business taxation?

A: Income taxation and business taxation are terms used related to taxation.

Q: Which of the following cases would affect the noncurrent liabilities portion of the balance sheet?…

A: When Taxable income is greater than the accounting income then deferred tax liability should be…

Q: xplain the benefit approach and ability to pay approach with tax equity. Which approach is…

A: Taxes are the payments made by the individuals and corporation on their earnings. It is a compulsory…

Q: How is tax accounting different from financial accounting?

A: Accounting: It can be defined as the process of summarizing and recording the company’s financial…

Q: What is meant by two terms, ‘tax evasion’ and ‘tax avoidance’? Give your answer with examples of…

A: The financial position of the company can be arrived from the income statement prepared by the…

Q: Discuss the tax treatment for business and investment expenses.

A: Tax treatments usually explain the procedural computation tax liability of an individual by stating…

Q: What are the possible treatments for tax purposes of anet operating loss? What are the circumstances…

A: Net operating loss: When the level of income is less than the expenses for a given or a considered…

Q: Under what responsibility would investigating tax fraud be? tax accounting, Financial Accounting, or…

A: Tax fraud is a type of deception by misrepresenting or suppressing taxable income to evade or reduce…

Q: Which of the following differences between financial accounting and tax accounting ordinarily…

A: Solution:- A deferred tax liability is a listing on a company's balance sheet that records taxes…

Q: What are the general requirements regarding income, investments, and dividends with which a REIT…

A: Introduction: Real estate investment trust is a company that owns or primarily operates real estate…

Q: Which option is the correct definition of tax base? Select one: a. Tax base is the amount the asset…

A: Explanation: Tax Base is defined as the amount that is attributed to an asset or liability for tax…

Q: How do you identify the similarities and difference between the corporate income tax formula and…

A: Corporate income tax: It is a tax levied on a corporation's earnings that is known as corporate…

Q: Why is the allocation of the income tax expense figure between the members of a business combination…

A: The allocation of the income tax expense figure between the members of a business combination is…

Q: Do the liabilities and assets that are generated by using the 'balance sheet method' of accounting…

A: The implication of the rules of conceptual frame work will helpful to create best standard in the…

Q: How have the recent revenue recognition standards affected the book/ tax accounting

A: Step 1: Revenue recognition is one of the standards of GAAP. It helps in recognizing the revenues…

Q: Briefly explain what factors significantly affect tax avoidance

A: Tax avoidance is a mechanism through which a taxpayer takes advantages of the loopholes in the tax…

Q: What is deferred tax liability and deferred tax liability in accounting?

A: A deferred tax liability:A deferred tax liability is an income tax obligation that is due for the…

Q: Briefly explain how tax loss carryback and carryforward procedureswork.

A: Loss carryback is a situation in which business is having operating loss in this year and it want to…

Q: difference between Tax Avoidance and Tax Evasion

A: The question talks about two terms : Tax Avoidance and Tax Evasion Hence. Let's first understand the…

Q: The form of employees compensation ir relevant to tax deductibility of the firm true? or false?

A: The correct answer for the above mentioned question is given in the following steps for your…

Q: What are the differences between income taxation and business taxation?

A: Note: We’ll answer the first question since the exact one wasn’t specified. Please submit a new…

Q: explain how deferred tax liabilities and assets are created and the factors that determine howa…

A: Deferred Tax Liability or Deferred Tax Asset is an integral component of the financial statements.…