Choose ABCD

The tax people pay on their wages and salaries is called

• capital transfer tax

• in come tax

• wealth tax

The______principle is concerned with the timing of the recognition of transaction in the account. Items are recoded when the income or expense arises and are not dependent on the movement of cash

• Prudence

• Matching

• Going concern

A tax on wages and salaries or on company profits is a______

• A direct tax

• indirect tax

• value-added tax

A tax paid on property, sales transactions, imports, and so on is a/an_____

• a direct tax

• indirect tax

• value-added tax

Reducing the amount of tax you pay to a legal minimum is called____

• A creative accounting

• tax avoidance

• tax evasion

_____are not normally recognized on undistributed earnings, but only if the plan is to re-invest the profits.

• Deferred taxes

• retained earnings

• intangible asset

• equity

Gifts and inhertiances over a certain value are often liale to a_____

• capital gains tax

• capital transfer tax

• wealth tax

_______refers to all the items, goods, merchandise, and materials held by business for selling in the market to earn a profit.

• debt

• inventory

• revenue

• sales

_____ is all the money received by a company during a given period

• income tax

• dividend

• revenue

• interest

_____ for income taxes is talking about the current year's tax expense which will have paid in the future

• return

• provision

• avoidance

• deduction