In Developing Forecasts of Expenses the Analyst Must Take into Consideration

question 37

Short Answer

In developing forecasts of expenses the analyst must take into consideration that expenses can be broken down into ________________________ or ______________________ components.

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Definitions:

Double Taxation

The taxation of the same income or financial transaction at two different levels, such as corporate profits and then again as dividends to shareholders.

Corporation

A corporation is a legal entity that is separate and distinct from its owners, offering limited liability protection to its shareholders, and is capable of owning property, entering into contracts, and being taxed.

Income Taxes

Taxes imposed by the government on the income earned by individuals and corporations.

Partnerships

A business structure where two or more individuals manage and operate a business in accordance with the terms and objectives set out in a Partnership Agreement.