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WGU C254 - Fraud and Forensic Accounting, Questions and answers, rated A+ (Economic downturn 2008 to 2013) Most economists agree that __________ and _________ were the root causes of the economic downturn. - -- sub-prime mortgages - other risky financial instruments Financial statements prepared by organizations play an important role in keeping America's markets efficient, what do financial statements provide? - -- meaningful disclosures of: ---where a company has been ---where i...

WGU C254 - Fraud and Forensic Accounting, Questions and answers, Rated A+ the usual penalty in a civil case is - -Monetary Damages and Equitable Releif The burden of proof in a criminal case is - -beyond a reasonable doubt which of the following is a source of law in the United States? Case law, Constituational Law, Administrative Law, Statutory Law - -Constitutional, Statutory, Case, and Administrative law the first 10 amendments of the U.S. Constituion are the - -Bill of rights Dire...

WGU C232: Introduction to Human Resource Management-ALL, Exam Review Questions and answers, VERIFIED Define internal factors impacting business strategies. - -Internal business strategies are: * company strategy & culture * company structure * company size * top management * company HR perceptions * internal technology available Define external factors impacting business strategies. - -* changing technology * economy * competition * Globalization * Legislation Peer Appraisal -...

WGU C239 PA, Top Exam Questions and answers, 100% Accurate, GRADED A+ An individual has taxable income of $60,000. The first $20,000 is taxed at 20%, the next $20,000 is taxed at 20%, and all income above $40,000 is taxed at 20%.Which tax structure is being applied to the individual's taxable income? Base Regressive Progressive Proportional - -Proportional Which federal income tax structure imposes an increasing marginal tax rate as the tax base increases? Regressive tax Increment...

WGU C239 Exam Review. Easy Mastery. Verified. Sec 351 - -Three requirements: ferror transfers for property 2. Solely in exchange for the corporation stock 3. Have to have control immediately following transaction Control of 80% of (combined voting and nonvoting) each voting stock and nonvoting stock Not valid with transferring in service and does not get considered in terms of control for Sec 351 eligibilty for that trnasferror. However, if this persons contribution dilutes the contr...

WGU C239 Advanced tax Practice test Questions and answers, 100% Accurate, VERIFIED. 1. Why would a taxpayer need to include IRS Form 8332, Release/Revocation of Claim to Exemption of Child by Custodial Parent, in their personal income tax return? A. To allow a noncustodial ex-spouse permission to take the child's dependency exemption, or to revoke same. B. To disallow an ex-spouse permission from taking child's dependency exemption because they only provided 10% of child's suppor...

WGU C239 Advanced Tax Concepts, Full Exam Review, Graded A+. VERIFIED. 1099 Requirements - -Payment more than 600; C Corp exempt Acquisitive Reorganization - -Acquiring corporation obtains part or all of a target corporation's assets or stock Alternative Minimum Tax - -taxpayers with substantial income can't use exclusion, deductions and credits to avoid a significant part of their tax liability Alternative Minimum Tax Income - -(Regular taxable amount + AMT amount +/- adjustments) x...

WGU C232: Introduction to Human Resources Assessment Questions and answers, 100% Accurate, rated A+ 1. Which hr resource function helps the organization understand the number and type of employees the organization will need in the future? a. Recruiting b. Planning c. Appraising d. Compensating - -Planning 2. What are two societal trends that are influencing the world of work? a. Decreasing world trade b. Changes in communication technology c. Lower college graduation rates ...

WGU C237.Taxation 1 Pre-Assesment, Top Exam Questions and answers, 100% Accurate, Rated A+ What year was the U.S income tax on individuals permanently established? - -1913 What is the highest level of legislative authority of tax law in the United States? - -Internal Revenue Code What are two primary sources of tax law in the United States? - -Court Decisions and Revenue Rulings What is a certainty when evaluating a tax system? - -Taxes can be estimated if annual income is the same...

WGU C237 Taxation I, Exam Questions and answers, 100% Accurate, VERIFIED. Describe the history of taxation in the US - -unconstitutional 1895 Sources of Tax Law-Legislative Branch - -- Internal Revenue Code (Top) - Congressional Committee Reports Describe the criteria of an equitable tax structure Equity - -Is it Fair Simplicity - -understandability Economy - -minimal compliance and administrative costs - Convenience - -no burden of records and compliance Certainty - -Stability and ce...

WGU C237 Taxation I Review, Questions and answers, 100% Accurate. VERIFIED. After the reinstatement of the individual federal income tax in 1894, why was the tax challenged in the courts? - Administration would be difficult since the tax was apportioned in proportion to state populations What are two primary sources of tax law in the United States? - Revenue Rulings, Court Decisions, Internal Revenue Code, Congressional Committee Reports, Income Tax Regulations, Revenue Procedures, a...

WGU C237 Taxation I Review for Final, Exam Questions & Answers, Graded A+ B)Progressive tax rate structure The U.S. Federal Income Tax System is: A)Regressive tax rate structure B)Progressive tax rate structure C)Proportional tax rate structure D)Possessive tax rate structure marginal tax rate U.S. Federal and State Income Taxes use a progressive tax rate structures. Progressive tax rate structures increase the ______________ as the tax base increases. Regressive tax rate _________...

WGU C237 Taxation I, Exam Questions and answers, 100% Accurate. Graded A+ Tax. (CHAPTER 1) a payment required by a government that is unrelated to any specific benefit or service received from the government 3 Criteria Payment must be *Required (not INVOLUNTARY) *Imposed by a government agency (federal, state, local) *Not tied directly to the benefit received by the taxpayer - Continuous debate whom to tax, what to tax, how much to tax Sin Tax taxes imposed on the purchase of goods...

WGU C237 Taxation I, Exam Questions and answers, 100% Accurate, VERIFIED. Define each component of the individual income tax formula - -income from whatever source derived exclusions=any item of income that the tax laws says is not taxable gross income=all income received in cash, property, and services from whatever source derived and from which the taxpayer derives a direct economic benefit deductions for AGI=expense one would see on an income statement (wages, repairs, depreciation)...

WGU C237 Taxation 1 Review master questions and answers, rated A+. VERIFIED. The largest source of revenues for the federal government comes from - -individual income taxes. Arthur pays tax of $5,000 on taxable income of $50,000 while taxpayer Barbara pays tax of $12,000 on $120,000. The tax is a - -proportional tax. Which of the following taxes is regressive? - -Federal Insurance Contributions Act (FICA) Sarah contributes $25,000 to a church. Sarah's marginal tax rate is 35% while her...

WGU C237 Tax Topic 1 Questions & Answers, ACCURATE, GRADED A+ The two components of the tax calculation are the tax rate and the taxpayer's status. T/F - -False, tax rate x tax base The 9th Amendment to the U.S. Constitution removed all doubt that a federal income tax was allowed under the U.S. Constitution. T/F - -False, The 16th amendment was ratified in February 1913. The tax base for the federal income tax is taxable income. T/F - -True Horizontal equity is defined in terms of tax...

WGU C237 Tax 1 2019 version, Exam Questions and answers, 100% Accurate, VERIFIED. Two components of the tax calculation - tax base multiplied by the tax rate Characteristics of a "Tax" - >Payment required - NOT VOLUNTARY >Payment imposed by government agency (federal, state, local) >Payment not tied directly to benefit received by the taxpayer 16th Amendment - removed all doubt that a federal income tax was allowed under the U.S. Constitution Horizontal equity - taxpayers ...

WGU c236 - Comp and Benefit Study Guide, Questions and answers, 100% Accurate, VERIFIED. Total Rewards - -all forms of pay including cash benefits, tangiable/intangiable etc... what forms of pay are invoved in Total Reward for the Organization? - -cash, benefits, intangiables. cash compensation - -____________ influences the employee in an organization HR Generalist impacts compensation by. - -making the reward strategy and a business strategy line up. Compensation Manager's responsi...

WGU C236 Topic 1, Exam Questions and answers, 100% Accurate, VERIFIED. How do employers define total rewards? - All forms of pay and compensation, tangible benefits, and other intangible rewards that an organization provides - All forms of benefits such as insurance and paid time off, NOT including base salary - The ability to provide a fair, competitive salary in the job market - Base salary - -All forms of pay and compensation, tangible benefits, and other intangible rewards that an...

WGU C236 PA & OCA, Exam Questions and answers, 100% Accurate, Graded A+. VERIFIED. Which two approaches apply to internal reward alignment? Job-based approach and individual-based approach Which provision applies if a job is covered by the Fair Labor Standards Act? a. Employees' pay rates may be based on an employee's personal characteristics such as gender or age. b. Employers are exempt from paying the standard minimum wage and may set the wage they are willing to pay. c. Employe...