Description
Examine and compare differences between cultures. Overall, the United States is a low-context country. Considering Hall’s theory of low- and high-context cultures, identify a high-context country and interview someone you know from that country. Discuss the differences and similarities based upon cultural dimensions identified in the readings from Module Two. How might these differences impact a work environment?
Explanation & Answer
Attached.
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Student’s Name
Instructor’s Name
Course
Date
Q1.
Current Federal Tax Expense
Current Foreign Tax Expense
Current State and Local Tax Expense
Current Income Tax Expense
Current Federal Income Tax
Q2.
Tax laws promote the more accelerated depreciation so that the tax matches the status of the
assets. When an asset is new, it tends to be used often hence generating more income unlike
when the assets have been phased out of the market in which it generates little income. The
economic implication is higher expense during the early stages while later periods are charged
little amount due to price reduction of the assets or emergence of new ones in the marketing
environment. The accelerated depreciation will also lead to the deferment of the taxation liability
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due to higher income during the later periods of the assets. However, the net income in the early
periods of the assets is low due to higher taxation of the assets.
Q3.
Why when the tax rate changes, the Deferred Tax Liability (DTL) left from the previous years
have to be readjusted as formula:
DTL carried from last year = DTL last year x new tax rate/old tax rate
When the tax rate increases, the liability of the assets increases since more money will be
deducted away from the price of the assets. Again, a decrease in tax ra...