Choose the Word or Phrase in [ ] Which Will

question 150

Short Answer

Choose the word or phrase in [ ] which will correctly complete the statement. Select A for the first item, B for the second item, and C if neither item will correctly complete the statement.
-Tax [avoidance | evasion] involves failure to accurately report income or deductions,and,in extreme cases,a failure to pay taxes altogether.

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Definitions:

Assess

To evaluate or estimate the nature, ability, or quality of something through examination or analysis.

Resources

The total means available for economic and operational support, including financial assets, personnel, and informational materials.

International Accounting Standards Board

An independent, private-sector body that develops and approves International Financial Reporting Standards (IFRS) to ensure transparency, accountability, and efficiency in financial markets around the world.

Global Accounting Standards

Principles and regulations intended to provide a framework for financial reporting that is consistent across international borders.