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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.

Office audit

A tax audit is a routine inquiry conducted by a tax authority, typically regarding a straightforward tax issue. It is a systematic review of an individual or business's fina...

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Base cost

"Good morning class, today we will be discussing an important concept in finance known as 'cost basis'. This term is used in capital gains tax legislation to refer to the or...

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Temporary importation

As an expert in the field of finance, it is crucial to understand the concept of temporary importation. This practice is common in several countries, where items can be brou...

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Stock exchange turnover tax

A common term in finance is "securities transaction tax", which refers to the tax imposed on the buying and selling of securities on the stock exchange. This tax is usually ...

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