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Tutorial

ACC 568 Final Exam Guide Part 1
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ACC 568 Final Exam Guide Part 1
Question 1
Which of the following is not an assumption of the linear breakeven model:
Question 2
George Webb Restaurant collects on the average \$5 per customer at its breakfast & lunch diner. Its variable cost per customer averages \$3, and its annual fixed cost is \$40,000. If George Webb wants to make a profit of \$20,000 per year at the diner, it will have to serve__________ customers per year.
Question 3
In the linear breakeven model, the breakeven sales volume (in dollars) can be found by multiplying the breakeven sales volume (in units) by:
Question 4
In the linear breakeven model, the difference between selling price per unit and variable cost per unit is referred to as:
Question 5
In a study of banking by asset size over time, we can find which asset sizes are tending to become more prominent. The size that is becoming more predominant is presumed to be least cost. This is called:
Question 6
Theoretically, in a long-run cost function:
Question 7
The price for used cars is well below the price of new cars of the same general quality. This is an example of:
Question 8
Experience goods are products or services
Question 9
Long distance telephone service has become a competitive market. The average cost per call is \$0.05 a minute, and it’s declining. The likely reason for the declining price for long distance service is:
Question 10
All of the following are mechanisms which reduce the adverse selection problem except ____.
Question 11
In the short-run for a purely competitive market, a manufacturer will stop production when:
Question 12
Uncertainty includes all of the following except ____.
Question 13
An “experience good” is one that:
Question 14
The practice by telephone companies of charging lower long-distance rates at night than during the day is an example of:
Question 15
Of the following, which is not an economic rationale for public utility regulation?
Question 16
Regulatory agencies engage in all of the following activities except _______.
Question 17
Declining cost industries
Question 18
The demand curve facing the firm in ____ is the same as the industry demand curve.
Question 19
In the electric power industry, residential customers have relatively ____ demand for electricity compared with large industrial users. But contrary to price discrimination, large industrial users generally are charged ____ rates.
Question 20
Question 21
A cartel is a situation where firms in the industry
Question 22
Even ideal cartels tend to be unstable because
Question 23
In the Cournot duopoly model, each of the two firms, in determining its profit-maximizing price-output level, assumes that the other firm’s ____ will not change.
Question 24
Some industries that have rigid prices. In those industries, we tend to
Question 25
In a kinked demand market, whenever one firm decides to lower its price,
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ACC 568 Week 2 Assignment 1 client Letter (Foreign Source Income Rules)
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Assignment 1: Client Letter
You are a CPA professional and are assisting a new client who is expanding a business that operates in the United States to having a global presence with operations in foreign countries. The new client is concerned about how he can mitigate the U.S. tax impact from revenue sourced in foreign countries. The client was advised by a friend that claims he did not have to pay any U.S. tax on income received from outside the U.S.
Use the Internet and your text to research the various rules regarding source rules for income and deductions.
Write a one to two (1–2) page paper in which you:
1. Construct a letter to communicate to your client about the source rules for income and deductions and the circumstances that income received in foreign countries may or may not be taxed in the U.S.
2. Make a recommendation to the client as to how to mitigate the U.S. tax impact from income received from outside the U.S. Provide facts to support your recommendation.
3. Use at least two (2) quality resources in this assignment. Note: Wikipedia and similar Websites do not qualify as quality resources.
· Be typed, double-spaced, using Times New Roman font (size 12), with one-inch margins on all sides; citations and references must follow APA or school-specific format. Check with your professor for any additional instructions.
· Include a cover page containing the title of the assignment, the student’s name, the professor’s name, the course title, and the date. The cover page and the reference page are not included in the required assignment page length.
The specific course learning outcomes associated with this assignment are:
· Analyze the source rules reach of the U.S. Tax Code in regard to international taxation.
· Use technology and information resources to research issues in international tax planning and research.
· Write clearly and concisely about international tax planning and research using proper writing mechanics.
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ACC 568 Week 4 Assignment 2 Foreign Persons Trade / Business and U.S.-Sourced Income
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ACC 568 Week 4 Assignment 2
Students, please view the “Submit a Clickable Rubric Assignment” in the Student Center.
Instructors, training on how to grade is within the Instructor Center.
Due Week 4 and worth 200 points
Imagine you are a CPA working as a tax professional. A foreign client engages you to determine how best for them to invest in a U.S. startup company that plans to sell automobile parts. The client’s objective is to avoid or minimize any U.S. taxes that the foreign investor may incur. Assume that the client is forming this corporation with several other U.S. citizens.
Using the Internet or Strayer databases, research the rules related to foreign persons investing in U.S. companies and any tax implications for the foreign investor.
Write a three to four (3–4) page paper in which you:
1. Based on your research, determine at least three (3) types of investments in the U.S. company that will most likely trigger a taxable event for your client and those that are least likely. Provide support for the rationale.
2. Based on your research, evaluate at least three (3) types of U.S.-sourced income that your client is most likely to be impacted by U.S. taxes. Provide support for the evaluation.
3. Recommend the most advantageous type of investment strategy that your client should take when investing in this U.S. company and make recommendations for avoiding or eliminating taxes on the client’s U.S.-sourced income from the investment. Support the recommendations with examples.
4. Use at least three (3) quality resources in this assignment. Note: Wikipedia and similar Websites do not qualify as quality resources.
· Be typed, double spaced, using Times New Roman font (size 12), with one-inch margins on all sides; citations and references must follow APA or school-specific format. Check with your professor for any additional instructions.
· Include a cover page containing the title of the assignment, the student’s name, the professor’s name, the course title, and the date. The cover page and the reference page are not included in the required assignment page length.
The specific course learning outcomes associated with this assignment are:
· Analyze how foreign persons are taxed on income generated in the U.S.
· Use technology and information resources to research issues in international tax planning and research.
· Write clearly and concisely about international tax planning and research using proper writing mechanics.
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ACC 568 Week 6 Assignment 3 International Taxation and Foreign Tax Credits
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Assignment 3: International Taxation and Foreign Tax Credits
Due Week 6 and worth 280 points
Assume you are a CPA working as a tax professional and are hired by a client who is a U.S.-based taxpayer and is interested in expanding the business into foreign markets.
Using the Internet or Strayer databases, conduct research on the various tax impacts for U.S. companies that expand abroad.
Write a four to six (4–6) page paper in which you:
1.
2. Based on your research, assess at least two (2) types of organizations that the taxpayer could establish abroad and the various tax impacts that these types of organization may cause. Provide support for your rationale.
3. Based on your research, develop a strategy for the client to repatriate earnings from the foreign markets and avoid or mitigate the U.S. tax impact on repatriation. Provide support for your rationale.
4. Based on your research, evaluate foreign tax credits and propose at least three (3) tax credits the client could use and the impact on the taxes. Provide examples with your rationale.
5. Based on your research, assess the impact that the accumulated earnings tax had on the client and how the tax could be avoided or mitigated. Provide examples with your rationale.
6. Based on your research, analyze the rules regarding potential U.S. and foreign sourced losses and propose scenario to your client that would best represent the proper treatment of those losses. Provide support for your rationale.
7. Use at least four (4) quality resources in this assignment. Note: Wikipedia and similar Websites do not qualify as quality resources.
· Be typed, double spaced, using Times New Roman font (size 12), with one-inch margins on all sides; citations and references must follow APA or school-specific format. Check with your professor for any additional instructions.
· Include a cover page containing the title of the assignment, the student’s name, the professor’s name, the course title, and the date. The cover page and the reference page are not included in the required assignment page length.
The specific course learning outcomes associated with this assignment are:
· Analyze the legal basis of outbound international taxation and foreign tax credit limitations.
· Use technology and information resources to research issues in international tax planning and research.
· Write clearly and concisely about international tax planning and research using proper writing mechanics.
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ACC 568 Week 8 Assignment 4 Transfer Pricing
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Assignment 4: Transfer Pricing
Due Week 8 and worth 320 points
Transfer pricing is probably one of the biggest tax issues facing taxing authorities. Transfer pricing involves allocating revenues and costs between countries in order to create the best possible tax situation for a multinational company. For this assignment, you will be required to respond to the following scenario:
A multinational company has hired you as its tax professional to advise the company on how to use transfer pricing to avoid or mitigate taxes. This company manufactures and sells cars in the U.S. and two (2) foreign countries.
Using the Internet or Strayer Library, research the rules and techniques for transfer pricing. Choose two foreign countries and research their respective tax rates.
Write a six to eight (6–8) page paper in which you:
1. Based on your research, create projections of revenues, costs, and tax rates for all three (3) countries, including the U.S. Provide support for your projections.
2. Based on your projections, create at least two (2) scenarios in which you allocate revenues and costs to each country to determine the lowest possible overall tax for each country. Provide support for your rationale.
3. Create at least three (3) scenarios and propose a scenario to the client that will result in a favorable tax position. Provide support for your rationale.
4. Create at least three (3) scenarios and propose a scenario to your client that is less likely to result in an IRS audit. Provide support for your rationale.
5. Assume that the IRS has challenged the allocations and is preparing to audit the client. Prepare a position to defend the client to IRS. Provide support for your position.
6. Imagine that you are an IRS agent auditing a multinational company’s transfer pricing methods. Evaluate the tools you could use to perform the audit and propose an audit plan. Provide support for the strategy.
7. Use at least five (5) quality resources in this assignment. Note: Wikipedia and similar Websites do not qualify as quality resources.)
· Be typed, double spaced, using Times New Roman font (size 12), with one-inch margins on all sides; citations and references must follow APA or school-specific format. Check with your professor for any additional instructions.
· Include a cover page containing the title of the assignment, the student’s name, the professor’s name, the course title, and the date. The cover page and the reference page are not included in the required assignment page length.
The specific course learning outcomes associated with this assignment are:
· Examine various transfer pricing methodologies and how they impact taxation.
· Use technology and information resources to research issues in international tax planning and research.
· Write clearly and concisely about international tax planning and research using proper writing mechanics.
— — — — — — — — — — — — — — — — — — — — — — — — — — —
ACC 568 Week 8 Assignment 4 Transfer Pricing
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www.acc568mart.com
Assignment 4: Transfer Pricing
Due Week 8 and worth 320 points
Transfer pricing is probably one of the biggest tax issues facing taxing authorities. Transfer pricing involves allocating revenues and costs between countries in order to create the best possible tax situation for a multinational company. For this assignment, you will be required to respond to the following scenario:
A multinational company has hired you as its tax professional to advise the company on how to use transfer pricing to avoid or mitigate taxes. This company manufactures and sells cars in the U.S. and two (2) foreign countries.
Using the Internet or Strayer Library, research the rules and techniques for transfer pricing. Choose two foreign countries and research their respective tax rates.
Write a six to eight (6–8) page paper in which you:
1. Based on your research, create projections of revenues, costs, and tax rates for all three (3) countries, including the U.S. Provide support for your projections.
2. Based on your projections, create at least two (2) scenarios in which you allocate revenues and costs to each country to determine the lowest possible overall tax for each country. Provide support for your rationale.
3. Create at least three (3) scenarios and propose a scenario to the client that will result in a favorable tax position. Provide support for your rationale.
4. Create at least three (3) scenarios and propose a scenario to your client that is less likely to result in an IRS audit. Provide support for your rationale.
5. Assume that the IRS has challenged the allocations and is preparing to audit the client. Prepare a position to defend the client to IRS. Provide support for your position.
6. Imagine that you are an IRS agent auditing a multinational company’s transfer pricing methods. Evaluate the tools you could use to perform the audit and propose an audit plan. Provide support for the strategy.
7. Use at least five (5) quality resources in this assignment. Note: Wikipedia and similar Websites do not qualify as quality resources.)