A tax on businesses profits, paid by LTD and PLCs.

Prepare for the WJEC GCSE Business Studies Test with interactive quizzes and detailed explanations. Enhance your knowledge on key business concepts and boost your exam confidence.

Multiple Choice

A tax on businesses profits, paid by LTD and PLCs.

Explanation:
Corporation tax is the tax charged on a company's profits, and it applies to LTDs and PLCs. It’s a direct levy on the profits after expenses, not a tax on workers or on prices, and it’s separate from concepts like trade unions, empowerment, or fixed costs. Trade unions are groups that represent workers, empowerment is about giving employees more decision-making power, and fixed costs are costs that don’t change with output.

Corporation tax is the tax charged on a company's profits, and it applies to LTDs and PLCs. It’s a direct levy on the profits after expenses, not a tax on workers or on prices, and it’s separate from concepts like trade unions, empowerment, or fixed costs. Trade unions are groups that represent workers, empowerment is about giving employees more decision-making power, and fixed costs are costs that don’t change with output.

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