Developing Nations Generally Favor

question 42

Multiple Choice

Developing nations generally favor:

• A) creation of a permanent trade and environment committee in the WTO.
• B) an ad valorem tax on all imports to promote environment-friendly development in poorer nations.
• C) transfer of environmentally appropriate technology for little or no charge.
• D) creation of a permanent trade and environment committee in the WTO and an ad valorem tax on all imports to promote environment-friendly development in poorer nations.
• E) an ad valorem tax on all imports to promote environment-friendly development in poorer nations and transfer of environmentally appropriate technology for little or no charge.

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Definitions:

Supplemental Wage Payments

Additional wages paid to an employee, varying from regular salary, such as bonuses, commission, overtime pay, and severance pay, which may be taxed differently.

Accountable Plan

This is an IRS-recognized plan that allows businesses to reimburse employees for work-related expenses tax-free, provided certain conditions are met, such as business connection and adequate accounting.

Taxable Fringe Benefits

Benefits provided by an employer to an employee, which are considered taxable income for the employee, such as personal use of a company car.

FUTA Tax

Federal Unemployment Tax Act tax, a payroll tax paid by employers to fund state workforce agencies and unemployment insurance for workers who have lost their jobs.