Non deductible taxes - Study guides, Class notes & Summaries

A property tax is assessed based on the value of the property at a point in time. How does this compare to how income taxes are assessed? - Income taxes are assessed based on income *over a period of time* rather than at a point in time. Think income statement verses balance sheet. What period of time will we use when determining federal individual income tax in this class? - One calendar year What method of accounting is used for individual income taxes and why? - Individuals use cash bas...

CFA Level 1 - 101 Must Knows 368 Questions with Verified Answers Addition Rule of Probability - CORRECT ANSWER ADDITION: P(A or B) = P(A) + P(B) - P(AB) Roy's Safety First Criterion - CORRECT ANSWER Safety First Ratio = (E(R) - Rₜ) / σ Larger ratio is better If (Rₜ) is risk free rate, then it becomes Sharpe Ratio Sharpe Ratio - CORRECT ANSWER Sharpe Ratio = (E(R) - RFR) / σ Larger ratio is better If (Rt) is higher than RFR, then it becomes Safety First Ratio Centra...

TEST BANK for Canadian Income Taxation Planning and Decision Making, 25th Edition by William Buckwold, Joan Kitunen, Matthew Roman, Abraham Iqbal, ISBN-7. All Chapters 1-23. (Complete Download) Version 1 1 CHAPTER 1 1) Which of the following is not considered to be a separate entity for tax purposes in Canada? A) An individual B) A proprietorship C) A corporation D) A trust 2) Which of the following attitudes and actions is most likely to help decision-makers develop an efficient app...

Walk me through the 3 financial statements The 3 major statements are the income statement, balance sheet, cash flow statement. The income statement has revenue as the top line, subtracts out expenses, and goes down to net income. The balance sheet shows the companies assets (resources over time such as cash, inventory, PP&E) and its liabilities (debt and accounts payable) and its shareholders equity. Assets must equal liabilities plus shareholder's equity. Cash flow begins with net income and...

Wisconsin Life, Accident, & Health Exams Prep 2024/2025 Questions with 100% Correct Answers "Maximum benefits" refers to the a. upper limit of the total lifetime benefits the insurance company will pay b. upper limit percentage of what the insurance company will pay for coinsurance c. upper limits of what the insured will pay in out-of-pocket expenses d. upper limits of what an insurance company will pay for any particular claim - upper limit of the total lifetime benefits the...

What effect did the recession of have on government regulation? It was greatly increased. 1-2 What advantages does a sole proprietorship offer? What is a major drawback of this type of organization? A sole proprietorship offers the advantage of simplicity of decision making and low organizational and operating costs. A major drawback is that there is unlimited liability to the owner. 1-3 What form of partnership allows some of the investors to limit their liability? Explain briefly. A ...

MHA 706 Midterm- Lord Exam Questions and Answers 100% Pass Proprietorships & Partnerships: Pros & Cons - Correct Answer ️️ -Pros: Ease of Information, Subject to a few regulations, no corporation income taxes. Cons: Limited life, difficult to transfer, unlimited life, difficult to raise capital. Corporations: Pros & Cons - Correct Answer ️️ -Pros: Unlimited life, easy transfer of ownership, limited liability, ease of raising capital. Cons: Cost of formation and reporting, double o...

Proprietorships & Partnerships: Pros & Cons Correct Answer Pros: Ease of Information, Subject to a few regulations, no corporation income taxes. Cons: Limited life, difficult to transfer, unlimited life, difficult to raise capital. Corporations: Pros & Cons Correct Answer Pros: Unlimited life, easy transfer of ownership, limited liability, ease of raising capital. Cons: Cost of formation and reporting, double or triple taxes must be paid. Non-profit Organization Correct Answer Exempt fro...

Proprietorships & Partnerships: Pros & Cons -:- Pros: Ease of Information, Subject to a few regulations, no corporation income taxes. Cons: Limited life, difficult to transfer, unlimited life, difficult to raise capital. Corporations: Pros & Cons -:- Pros: Unlimited life, easy transfer of ownership, limited liability, ease of raising capital. Cons: Cost of formation and reporting, double or triple taxes must be paid. Non-profit Organization -:- Exempt from taxes. Goal is to improve...

CPNRE prep (Timby and Smith) Exam 2024 Healthcare team -Answer-consists of specially trained personnel who work together to help clients meet their healthcare needs Healthcare delivery system -Answer-refers to the full range of services available to people seeking prevention, identification, treatment, or rehabilitation of health problems. Primary care -Answer-first health care worker or agency to assess a person with a health need; emphasis on prevention and education, promoting health s...