SWFT Comprehensive Vol 2020
43rd Edition
ISBN: 9780357391723
Author: Maloney
Publisher: Cengage
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Which option is the correct definition of tax base?
Select one:
a. Tax base is the amount the asset or liability is recorded at in the accounting records.
b. Tax base is a comparing the balance sheet derived using accounting rules with balance sheet that would be derived from taxation rules
c. Tax base is the recognition of assets and liabilities in the balance sheet based on the differences between accounting and tax values of assets and liabilities.
d. Tax base is defined as the amount that is attributed to an asset or liability for tax purposes.
This refers to the process of taxation to determine the amount of tax based on existing tax laws.
a. Levying
b. Imposition
C. Assessment
D. Collection
Determine the business tax applicable for the following independent assumptions. Put a check mark on the applicable law. Put the applicable tax rate.
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