The Formula for Determining the Percentage Change in an Account

question 73

True/False

The formula for determining the percentage change in an account from one year to the next year is [(amount in later period - amount in earlier period)/ amount in earlier period] times 100.

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Definitions:

Unlimited Liability

A legal situation in which the owners of a business are personally responsible for all the debts and liabilities of the business.

Double Taxation

The imposition of taxes on the same income, asset, or financial transaction at two different levels of government, such as corporate income being taxed first at the corporate level and then at the shareholder level when dividends are paid.

Double Taxation

The imposition of taxes on the same income, asset, or financial transaction at two different levels of government, often seen with corporate earnings taxed at both the corporate level and again as shareholder dividends.