Bureau of Internal Revenue

COST ACCOUNTING STANDARDS

Please wait while the activity loads.
If this activity does not load, try refreshing your browser. Also, this page requires javascript. Please visit using a browser with javascript enabled.

If loading fails, click here to try again

Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]

A	The government agency responsible for the collection of tax and enforcement of tax laws.
B	One or more individuals selling products or services for profit

Explanation:

Detailed explanation-1: -Internal Revenue Service or IRS is a United States Government agency which is responsible for collection of taxes and enforcement of tax laws like the wash sale rule. The primary purpose of this service is to collect individual and employment taxes.

Detailed explanation-2: -Matters relating to the levy and collection of all Direct Taxes are looked after by the CBDT whereas those relating to levy and collection of Customs and Central Excise duties and other Indirect Taxes fall within the purview of the CBIC. The two Boards were constituted under the Central Board of Revenue Act, 1963.

Detailed explanation-3: -BUREAU OF LOCAL GOVERNMENT FINANCE BLGF Department of Finances (DOF) directly responsible over the fiscal and financial affairs of local government.

There is 1 question to complete.