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WorksheetsTax Accounting: Vocabulary
Total questions: 25
Worksheet time: 13mins
A specialist who is able to give advice on matters of taxation (a)
the tax which is due on personal earnings
income tax
VAT
bookkeeper
Structure of accounting methods focused on taxes rather than the appearance of public financial statements
Tax Payable
Tax Statement
Tax Accounting
Companies pay corporate income tax as a percentage of their ____
revenue
Income
Profit
____ is an agency of the U.S government that collects taxes and enforces tax laws
The IFRS
The IRS
The CIA
IRS : (a)
The official statements of income and taxes owed
To Tax File
Tax Returns
Tax Service
To File A Return:
submit these statements to the government for review
submit the Income Statement to the government for review
prepare return to the government
The one year period a company uses to calculate their annual financial statements and taxes
Audit period
Interim
Fiscal Year
The Profit earned from selling an asset
capital gain
good will
other income
the percentage of tax that a company must pay to government
discount rate
tax rate
tax based
trying not to pay tax (legal)
tax bracket
tax avoidance
tax evasion
trying not to pay tax (illegal) (a)
tax bracket :_____
to cancel tax
to make tax go up
tells you what amount of tax to pay based on income
when you don't have to pay tax on certain income (a)
to cancel tax = to abolish tax
true
false
to introduce a new tax on something (a)
to increase tax : to make the tax go up
false
true
The asset is depreciated by a constant amount every year (a)
Accounting method of allocating the cost of a tangible or physical asset over its useful life or life expectancy (a)
Here the types of depreciation methods that allow by IFRS (a)
(a) : The depreciation is ’accelerated’ by this method, so that the expense is greater in the first year.
the estimated book value of an asset after depreciation is complete, based on what a company expects to receive in exchange for the asset at the end of its useful life (a)
