If, during an accounting period (1 year), a firm pays $100 for rent, $50 for interest, $500
Question:
If, during an accounting period (1 year), a firm pays $100 for rent, $50 for interest, $500 for materials, $1,000 for wages, and $300 for salaries to managers and if the firm realizes a profit of $600, what is the firm’s value added? To put the question another way, who adds value in each of these accounts to the economic output of the country? Who should be the taxpayer with respect to each item of value added?
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To calculate the firms value added you need to subtract the total expenses costs from the profit gen...View the full answer
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Related Book For
Value Added Tax A Comparative Approach
ISBN: 9780521616560
1st Edition
Authors: Alan Schenk, Oliver Oldman
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