ENTREPRENEURIAL PLANNING
FINANCIAL PLANNING AND ANALYSIS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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True
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False
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Either A or B
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None of the above
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Detailed explanation-1: -A tax is charge imposed by federal state, and local governments to finance public services. A record of your assets and liabilities is called a cash flow statement. A budget can help you buy wisely and avoid credit problems. An expense is the amount of money you plan to use for a certain budget category.
Detailed explanation-2: -Sales tax: A consumption tax imposed by a government on the sale of goods and services. This can take the form of a value-added tax (VAT), a goods and services tax (GST), a state or provincial sales tax, or an excise tax.
Detailed explanation-3: -Taxes are used by the government for carrying out various welfare schemes including employment programmes. There are Lakhs of employees in various departments and the administrative cost has to be borne by the Government.
Detailed explanation-4: -State and local governments collect tax revenues from three primary sources: income, sales, and property taxes.