Choose the Appropriate Definition for the Terms Below

question 136

Short Answer

Choose the appropriate definition for the terms below.
a.professional guidelines followed by accountants
b.corporations that have issued shares in public markets
c.organizations that do not issue information used by the public
d.set of standards used by public corporations
e.the group responsible for Canadian GAAP
f.issues International Financial Reporting Standards
g.designates the CICPA Handbook as GAAP
h.this group was established to oversee accounting and reporting standards for both Canadian companies and not-for-profits

---

Definitions:

Tax

Mandatory financial charge or some other type of levy imposed upon a taxpayer by a governmental organization in order to fund government spending and various public expenditures.

Buyers

Individuals or organizations that purchase goods or services for personal use, resale, or as input for the production of other goods and services.

Price

The fiscal amount foreseen, obligatory, or rendered in settlement for something.

Tax Burden

The total amount of taxes that individuals or businesses must pay to the government, expressed as a percentage of income or revenue.