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Taxes

Accounts receivable

is known as accounts payable.

Accounts payable is a term commonly used in the world of finance. It refers to the amount of money a company owes to its creditors, which is recorded as a liability on its balance sheet. These are typically unsettled transactions or claims that are part of the normal course of a business. As a knowledgeable professor, it is important to understand the significance of this term and how it impacts a company's financial standing.

Agency

A company that offers specialized services to a foreign entity is known as a dependent agency. This establishes a permanent presence for the foreign entity in the country wh...

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Schedular tax system

A fundamental concept in finance is the tax system, which involves the separate taxation of income from various sources. This means that different "schedules" are used to de...

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Legal entity

In the realm of finance, we often encounter terms such as corporations, joint-stock companies, and limited liability companies. It is important to note that for tax purposes...

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Final tax

Tax treaties play a crucial role in international taxation by limiting the withholding tax imposed by the country of source. This means that the rate applied in a treaty cou...

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