Sales Taxes Are ________, and Most Income Taxes Are ________

question 54

Multiple Choice

Sales taxes are ________, and most income taxes are ________.

• A)regressive; regressive
• B)progressive; progressive
• C)progressive; regressive
• D)regressive; progressive

Distinguish between strategic and non-strategic investments based on accounting methods.

Recognize the accounting treatment of investments under IFRS 9.

Understand reporting requirements under the Accounting Standards for Private Enterprises (ASPE).

Describe the recognition of gains and losses on fair value through profit or loss (FVTPL) securities and their impact on net income.

---

Definitions:

Rational Ways

Approaches or methods guided by logic and reason, often emphasizing the importance of evidence-based decision-making.

Intrinsically Unethical

Refers to actions or behaviors that are inherently wrong or immoral by nature, regardless of context or consequences.

Branding

The marketing practice of creating a name, symbol, or design that identifies and differentiates a product or company from others.

Branding Strategy

A plan that involves the creation of a unique identity and image for a product or company in the market, aiming to differentiate it from competitors and build a loyal customer base.