A Band Who Fails to Record the Cash They Collected

question 24

Multiple Choice

A band who fails to record the cash they collected for admission to their shows could be charged with what illegal practice?

• A)cash diversion
• B)tax evasion
• C)skimming
• D)payroll tax avoidance

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Definitions:

Corporate Office

The main office or headquarters of a corporation where key administrative and executive activities are conducted.

Common Fixed Expenses

Common fixed expenses are overhead costs shared across multiple segments or products of a business, like administrative salaries or building rent.

Break-Even

The point at which total costs and total revenue are equal, meaning there is no net loss or gain.

Sales Dollars

The total revenue generated from selling goods or services, measured in dollars.