Which is not a scheme of shifting incidence of tax burden

Assignment Help Accounting Basics
Reference no: EM132766915

Problem 1: Which of the following is not a scheme of shifting the incidence of tax burden?

A. The manufacturer transfers the tax to the consumer by adding the tax to the selling price of the goods sold.

B. The purchaser asks for a discount or refuse to buy at regular price unless it is reduced by an amount equal to the tax he will pay.

C. Changing the terms of the sale like FOB shipping point in the Philippines to FOB destination abroad, so that the title passes abroad instead of in the Philippines.

D. The manufacturer transfers the sales tax to the distributor, Then in turr to the wholesaler, to the retailer and finally to the consumer.

Reference no: EM132766915

Questions Cloud

Is a co-ownership taxable : Is a co-ownership taxable? No, because the activities of the co-owners are limited to the preservation of the property and the collection of income therefrom.
Why is early detection of compartment syndrome important : List 5 potential nursing diagnoses for a child involved in a Motor Vehicle Accident (i.e. hit by a car)? Why is early detection of compartment syndrome.
Make the journal entries in the records of partridge ltd : Make the journal entries in the records of Partridge Ltd for the years ended 30 June 2018 and 30 June 2019 in relation to the investment in Pear Tree Ltd
What would Jay children receive : At the time of his death, John's investment portfolio was worth $305,169. What would Jay's children receive
Which is not a scheme of shifting incidence of tax burden : Which is not a scheme of shifting the incidence of tax burden? The manufacturer transfers the tax to the consumer by adding the tax to the selling price
What is the value of the company : Tool Manufacturing has an expected EBIT of $83,000 in perpetuity and a tax rate of 25 percent. What is the value of the company
What is the tax treatment for vat purposes of the sale : What is the tax treatment for vat purposes of the sale of Bobs Corporation to Mr. Huang? Bobs Corporation is a local export-oriented enterprise engage
Discuss about the organs affected in the body : Writen presentation in work document (Toxoplasma gondii): Chain of infection and its Links associated: Infectious agent, Reservoirs, Portal of Exit.
What is between for-profit business vs not-for-profit entity : What is the distinction between for-profit business and not-for-profit entities, including governments and what are the implications of this distinction

Reviews

Write a Review

Accounting Basics Questions & Answers

  Compute the amount of gross profit to be recognized

Compute the amount of gross profit to be recognized from the installment sale in 2013, 2014, 2015, and 2016 using point of delivery revenue recognition

  Assume the firm sells their hearing aid components at a

hear right company has identified certain variable and fixed costs in the production of its hearing aid

  What is the internal rate of return

Diamond Enterprises is considering a project that will produce cash inflows of $238,000, What is the internal rate of return if the initial cost of the project

  Make a report on financial report of myer holdings limited

Make a report on financial report of Myer Holdings Limited: Inventory - overstate- aasb valued at cost or lower of cost or market. Accounts receivable - overstate - estimation of provision for bad and doubtful debts - understate your provision

  Carver company produces a product which sells for 30

carver company produces a product which sells for 30. variable manufacturing costs are 15 per unit. fixed manufacturing

  What are the main objectives of ratio analysis

What are the main objectives of ratio analysis and why is this important to external users of the financial statements, such as investors? Who else might find these ratios useful and why?

  Prepare the journal entry to record income tax expense

Prepare the journal entry to record income tax expense, deferred income taxes, and income taxes payable for 2015

  Determine the net earnings of each employee

Determine the net earnings of each employee. Prepare the journal entries for the Recording the payroll and Paying the payroll.

  Cash flows during the first year of operations for the

cash flows during the first year of operations for the harman-kardon consulting company were as follows cash collected

  Many americans to abolish the income tax and replace it

many Americans to abolish the income tax and replace it with a flat, consumption based tax What would be the benefits and pitfalls of such a dramatic change

  What amount will Marigold receive when it issues the bonds

Marigold Inc. issues $2,047,300 of 7% bonds due in 10 years with interest payable at year-end. What amount will Marigold receive when it issues the bonds

  What is wilsons total depreciation deduction

This is the only property acquired this year and Section 179 expensing is elected. What is Wilson s total depreciation deduction for 2017?

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd