Define benefit corporation (B-Corp)

Q: Explain Not-for-profit entities.

A: Earnings: The bottom line of income statement which is the result of excess of earnings from…

Q: TRUE OR FALSE? In computing for the comprehensive income, the net remeasurement gain on defined…

A: Other Comprehensive income is added to Net income to arrive at Comprehensive Income. Comprehensive…

Q: Kindly explain and give an example of Capital Gains Tax

A: Introduction:- The capital gains tax is a federal tax. It is charged on profit made from selling…

Q: the difference between a Corporation, Partnership, and P

A: There are three different forms of organization and each have own advantages and suitable for…

Q: A Defined Benefit Plan is a plan

A: There are several benefit plans available for the benefit of the employees working in different…

Q: Define the term Corporate taxable income?

A: Definition: A corporate tax is a type of direct tax that is levied by the state on the income of a…

Q: sic Re

A: Basic Real Property Tax Property tax is the amount that is paid by the land owner to the municipal…

Q: Define Limited liability company.

A: Accounting: Accounting is a system, or a process of collecting and organizing economic transactions,…

Q: Define each of the following terms: j. Improper accumulation; S corporation

A: Answer: Improper accumulation is the process of retaining company’s earnings to enable its…

Q: tax-exempt corporations

A: Tax-exempt status is given to the nonprofit corporation in order to exempt them from paying income…

Q: Define Charitable remainder trust.

A: Trust: Trust is normally created by the decent person that establishes a trust that holds the…

Q: Understand the estimate tax payment obligations of corporations.

A: Tax Obligation refers to a taxpayer's legal obligation under the tax code to compute the tax…

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: Which of the following 1s not an example of an exempt organization?

A: An entity can avail benefit of  tax exempt if : 1.Organization is established for the purpose of…

Q: Define the term parent company.

A: Parent company is a company which has controlling interest in other company by having owned voting…

Q: How does a benefit corporation’s charter differ from that ofa typical U.S. corporation?

A: Corporate structure that extends directors' fiduciary obligations to incorporate different interests…

Q: What is Capital Gains Tax and give examples?

A: Income tax:  It is the amount a person is liable to pay on the earned amount in an accounting year.…

Q: which accurately describes a charitable trust? A charitable organization:

A: Charitable trusts are the organizations that are incorporated with the objective of welfare or some…

Q: What is ‘fringe benefit tax’(FBT)? Explain atleast five main salient features of the FBT?

A: Fringe Benefit Tax: It refers to a tax which an employer needs to pay on the value of fringe or…

Q: When an indirect ownership is present, why is a specific ordering necessary for determining the…

A: Please find the answer to the above question below:

Q: According to PAS 26, a hybrid plan is accounted for as a. defined benefit plan b. defined…

A: Ans. PAS 26 talks about various retirement benefit plans. It consists both defined benefit plan and…

Q: For income tax purposes, how is affiliated group defined?

A: Tax:   It refers to a compulsory charge imposed by the government on all the taxpayers of the…

Q: Corporation. Cooperative. Partnership. Oropriotorchin

A: Introduction : In simple words, the given question relates to the multiple forms of business…

Q: What is limited liability corporation (LLC)?

A: A corporation is an entity which is distinct from its owners. A corporation acts as a legal person.…

Q: Discuss the implication of reporting NCI as a separate item of owners equity

A: The minority interest or NCI is the position of ownership where the stake of a shareholder is not…

Q: How can the separate entity concept benefit each of the ff: A. creditors B. consumers  C.…

A: This concept of accounting means that the owners of business need to ensure that it records…

Q: pasic community tax c

A: Property tax is the tax which is levied on real estates and any personal property which an…

Q: When is the intra-entity’s profits recognized on transfers between the investor and investee?

A: The period in which intra-entity’s profits recognized on transfers between the investor and investee…

Q: Explain Taxable REIT Subsidiaries?

A: Taxable REIT subsidiary (TRS): It may be an organization straightforwardly or by implication…

Q: Topic: Income Taxation Active incom

A: There are two types of income active and passive income.

Q: In reporting the functional expenses of a not-for-profit entity, what are the two general types of…

A: In reporting the functional expenses of a not-for-profit entity, there are two types of expenses:…

Q: Explain Sole Proprietorships?

A:

Q: How can we determine the corporate taxable income?

A: Taxable income: It can be defined as the income which serves as the base for computing the tax…

Q: How to register Sole Proprietorship in BIR and DTI?

A: Sole proprietorship is the form  which is managed, controlled and owned through single person  and…

Q: which of the following entities would relative valuation be appropriate? a.) a cooperative b.) a…

A: To assess a firm's financial worth, a relative valuation model compares its value to that of its…

Q: es for-profit and not-for-profit o

A: Step 1   For-Profit Organizations: A for-profit organization operates with the primary goal of…

Q: Identify some difference between private organization and nonprofit organization?

A: Whether an organization is public or private, is determined by its ownership, if it is publicly…

Q: The three leading candidates for best tax base are A. Income, consumption and wealth OB Income,…

A: Since you have asked multiple questions, we will solve the first question for you. If you want any…

Q: What is the amount and character of Renata's gain or loss? Renata Corporation has a gain of $ of…

A: Introduction:- Depreciation is an expense. Which is charged on fixed assets over useful life of the…

Q: Which of the following is not a taxable corporation?

A: Under the Philippine's National Internal Revenue Code of 1997, the term "corporation" includes…

Q: The measurement of defined benefit cost is usually made by a trustee.  True or false?

A: Defined-benefit plan: It is an Employer-Sponsored Retirement Plan in which employee benefits are…

Q: The income and expenses of a corporation for federal income tax purposes ar referred to a what type…

A: Federal Income Tax It is basically a tax levied by Internal Revenue Service on the annual earnings…

Q: Define each of the following terms: i. Capital gain or loss; tax loss carryback and carryforward

A: The capital gain or loss is computed as the difference in the sale price and purchase price of an…

Q: Assuming thẻ tâx corporation, com taxable income *

A: Answered

Q: nd its

A: Franchise Tax A franchise tax, also known as a privilege tax, is a tax paid by certain companies…

Q: What is Community Tax and its examples?

A: Solution-        Community Tax is a Chicago-based full-service tax company that focuses on serving…

Q: What are some examples of industries that falls under Public sector?   What are some examples of…

A: Public sector companies are those where more than 50% of shares are held by Government. Private…

Q: Which constitutes a taxable item of gross income? * Compensation for personal injuries Gain from…

A: Gross income: Gross income is the sum of all wages, salaries, profits, interest payments, rents, and…