Match Each Item with the Correct Statement Below

question 98

Multiple Choice

Match each item with the correct statement below.
-Result or product of an activity.

• A)activity analysis
• B)value-added costs
• C)velocity
• D)activity inputs
• E)activity output measure
• F)activity output

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Definitions:

Tax Deductible

Expenses that can be subtracted from gross income to reduce taxable income, effectively lowering the overall tax liability.

Tax Purposes

The reason or objective behind the implementation of taxes or certain tax guidelines, often related to income, business expenses, and investments.

Capital Gain

The profit earned from the sale of assets like stocks, bonds, or real estate, which exceeds the purchase price.

Book Value

For a company, the value of equity, equal to total assets minus total liabilities. Book value can be stated in total or per share. For an asset, book value is the net of original cost minus accumulated depreciation, and is generally referred to as net book value.