What Does the Public Sector Accounting Board (PSAB)recommend with Respect

question 41

Multiple Choice

What does the Public Sector Accounting Board (PSAB) recommend with respect to tax revenue?

• A)Tax revenue should be reported at gross.
• B)Tax revenue should be reported net of tax concessions and collection costs.
• C)Tax revenue should be reported net of tax concessions and collection costs should be expensed.
• D)Tax revenue should be reported net of tax collection costs and tax concessions should be expensed.

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Definitions:

Climate Change

Long-term shifts and alterations in temperature, precipitation patterns, and weather events, largely attributed to human activity, especially carbon emissions.

Fuel Efficiency

A measure of how effectively a vehicle uses fuel, often expressed as the distance traveled per unit of fuel.

Marginal Social Benefit

The additional benefit received by society from producing one more unit of a good or service.

Marginal Social Cost

The overall expense to society of producing one additional unit of a good or service, including both private costs and any externalities.