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What is the Importants of distinguishing revenue income and capital income under tax legislation?
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What role does the senate have in revenue legislation?
The House of Representatives originates the revenue legislation. The Senate then has the opportunity to Approve or Amend.
How does an increase in revenue affect working capital?
Revenue affects the capital by decreasing the capital.
What is main difference between capital budget and revenue budget?
While the capital budget and revenue budget are both budgets, the capital budget is incorporated for the long term. A revenue budget is made for the short term.
In which house does all revenue legislation originate?
All revenue, tax, and "money bills" originate in the House of Representatives
Which house of congress has the right to initiate legislation?
Either house can initiate most legislation, but only the House of Representatives can initiate legislation for generating revenue.
What would happen if you recorded a capital expenditure as a revenue expenditure?
if you recored revenue expediture as capital expediture your profit will be decrease by that amount
Is total revenue the financial capital received from the consumers total expenditures?
Yes, the total revenue is the goods and services sold and receieved through the consumers. Such goods is the financial capital of the toal revenue.
the excess of revenue over the expenses incurred in earning the revenue is called capital?
False
Why it is important to distinguish capital expenditures from revenue expenditures for tax purpose?
Because it is important. Capital expenditure = non-deductible Revenue expenditure = deductible
Who can raise income tax?
hm revenue and customs through government legislation.
What chamber does the Constitution specify that revenue legislation shall originate?
House of Representatives
What directly generates revenue for a business?
Output directly generates revenue for business.Output
