Question

Which of the following is NOT a type of tax discussed in your text? a) VAT...

Which of the following is NOT a type of tax discussed in your text?

a) VAT
b) Income
c) Sales
d) Depletion

Homework Answers

Answer #1

The correct answer is option d

Explanation:- Income tax, Value added tax, Sales tax are different types of taxes. Income tax is tax levied on people for the income earned. During the production process, each stage adds value value to the product, hence Value added tax is collected at each stage. The tax imposed on the sale of commodities is known as sales tax.

However depletion is not a type of tax because it is a reduction in the value of an asset due to production. For example mining results in reduction of mineral resources and this is considered depletion.

Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
Determination of VAT Amount A VAT registered business shows the following records: Total sales to VAT...
Determination of VAT Amount A VAT registered business shows the following records: Total sales to VAT person 880,000 Total sales to non- VAT person 720,000 Total purchases from VAT person 1,200,000 Total purchases from non-VAT person 300,000 Compute for the following: 1.Output Tax 2.Input Tax 3.Total Sales exclusive of VAT 4.Total Purchases exclusive of VAT 5.VAT payable Answer the following and explain! (Taxation in Philippines)
Using the payroll tax rates discussed in the text and the maximum taxable wage bases for...
Using the payroll tax rates discussed in the text and the maximum taxable wage bases for 2003 of $87,000, calculate the payroll tax (OASDI and HI combined) that would be paid by the employee and employer for each of the following amounts (a) 20,000; (b) 35,000; (c) 50,000; (d) 100,000; and (e) 150,000.
Determination of VAT Amount A VAT registered business shows the following records: Total sales invoice inclusive...
Determination of VAT Amount A VAT registered business shows the following records: Total sales invoice inclusive of VAT 1,344,000 Total purchase invoice inclusive of VAT 840,000 Total non-VAT purchases 12,100 Compute for the following: 1.Output Tax 2.Input Tax 3.Total Sales exclusive of VAT 4.Total Purchases exclusive of VAT 5.VAT payable Answer the following and explain! (Taxation in Philippines)
As discussed in the text, in the absence of market imperfections and tax effects, we would...
As discussed in the text, in the absence of market imperfections and tax effects, we would expect the share price to decline by the amount of the dividend payment when the stock goes ex dividend. Once we consider the role of taxes, however, this is not necessarily true. One model has been proposed that incorporates tax effects into determining the ex-dividend price:1    (P0 – PX)/D = (1 – TP)/(1 – TG)    where P0 is the price just before...
As discussed in the text, in the absence of market imperfections and tax effects, we would...
As discussed in the text, in the absence of market imperfections and tax effects, we would expect the share price to decline by the amount of the dividend payment when the stock goes ex dividend. Once we consider the role of taxes, however, this is not necessarily true. One model has been proposed that incorporates tax effects into determining the ex-dividend price:1    (P0 – PX)/D = (1 – TP)/(1 – TG)    where P0 is the price just before...
As discussed in the text, in the absence of market imperfections and tax effects, we would...
As discussed in the text, in the absence of market imperfections and tax effects, we would expect the share price to decline by the amount of the dividend payment when the stock goes ex dividend. Once we consider the role of taxes, however, this is not necessarily true. One model has been proposed that incorporates tax effects into determining the ex-dividend price: (PO – PX) / D = (1 – TP) / (1 – TG) Here PO is the price...
Describe one of the disorders discussed in your text, and discuss the possible causes for this...
Describe one of the disorders discussed in your text, and discuss the possible causes for this disorder.
Which of the following merger and acquisition is viable? _____ VAT = $400; VA = $200;...
Which of the following merger and acquisition is viable? _____ VAT = $400; VA = $200; VT = $205 VAT = $390; VA = $200; VT = $190 VAT = $410; VA = $200; VT = $190 VAT = $600; VA = $400; VT = $205
which of the following is an example of a transfer tax? A. income tax. B.. estate...
which of the following is an example of a transfer tax? A. income tax. B.. estate tax. C. income in respect of a decedent. D. self-employment tax.
Considering healthcare policy discussed in your text book, and your knowledge regarding technology and healthcare, how...
Considering healthcare policy discussed in your text book, and your knowledge regarding technology and healthcare, how should the current policies by altered OR what additionally policy should be developed to allow for an improvement in care and protection of patients?
ADVERTISEMENT
Need Online Homework Help?

Get Answers For Free
Most questions answered within 1 hours.

Ask a Question
ADVERTISEMENT