a.(1)Cash $0 + $14,430 = $0 + $14,430, Land $13,000 - $0 = $13,000 and Equity $0 + $1,430 = $0 + $1,430 were recorded. Calculation of Effect on Accounting Equation
Accounting Equation
Assets = Liabilities + Equity
Initially, the parcel of land is an asset and its value is $13,000. When it is sold for $14,430, there will be a gain on the sale. So, the effect of the sale of land on the accounting equation is as follows:
Increase in cash: $14,430
Less decrease in the value of land: $13,000
Gain on sale: $1,430
Increase in equity: $1,430
So, the effect on the accounting equation is:
Assets = Liabilities + Equity
Initial + Increase = Initial + Increase
Cash $0 + $14,430 = $0 + $14,430
Land $13,000 - $0 = $13,000
Equity $0 + $1,430 = $0 + $1,430
(2) Prairie Enterprises will report a gain of $1,430 on its Year 3 income statement. Calculation of Amount reported in Year 3 income statement related to the sale of land
The gain on the sale of land will be reported on the income statement. In this case, the gain is $1,430, and it is recognized when the sale of land is completed. So, Prairie Enterprises will report a gain of $1,430 on its Year 3 income statement.
(3) Prairie Enterprises will report a cash inflow of $14,430 on its Year 3 statement of cash flows related to the sale of land. Calculation of Amount reported in Year 3 statement of cash flows related to the sale of land
In the statement of cash flows, the cash inflow from the sale of land is reported. In this case, the cash inflow is $14,430. So, Prairie Enterprises will report a cash inflow of $14,430 on its Year 3 statement of cash flows related to the sale of land.
b.(1) Cash $0 + $12,220 = $0 + $12,220, Land $13,000 - $0 = $13,000 and Equity $0 - $780 = $0 - $780 were recorded. Calculation of Effect on Accounting Equation
Accounting Equation
Assets = Liabilities + Equity
Initially, the parcel of land is an asset and its value is $13,000. When it is sold for $12,220, there will be a loss on the sale. So, the effect of the sale of land on the accounting equation is as follows:
Increase in cash: $12,220
Less decrease in the value of land: $13,000
Loss on sale: $780
Decrease in equity: $780
So, the effect on the accounting equation is:
Assets = Liabilities + Equity
Initial + Increase = Initial + Decrease
Cash $0 + $12,220 = $0 + $12,220
Land $13,000 - $0 = $13,000
Equity $0 - $780 = $0 - $780
(2) Prairie Enterprises will report a loss of $780 on its Year 3 income statement. Calculation of Amount reported in Year 3 income statement related to the sale of land
The loss on the sale of land will be reported on the income statement. In this case, the loss is $780, and it is recognized when the sale of land is completed. So, Prairie Enterprises will report a loss of $780 on its Year 3 income statement.
(3)Prairie Enterprises will report a cash inflow of $12,220 on its Year 3 statement of cash flows related to the sale of land. Calculation of Amount reported in Year 3 statement of cash flows related to the sale of land
In the statement of cash flows, the cash inflow from the sale of land is reported. In this case, the cash inflow is $12,220. So, Prairie Enterprises will report a cash inflow of $12,220 on its Year 3 statement of cash flows related to the sale of land.
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Determine how the transaction changes the accounting equation. The company paid cash for supplies from The Office Store. a. Assets - decrease; Assets – increase b. Assets - decrease; Liabilities – decrease c. Assets - decrease; Owner's Equity – decrease Selected: d. Assets - increase; Liabilities – increaseThis answer is incorrect. e. Assets - increase; Owner's Equity – increase f. Liabilities - decrease; Owner's Equity – increase g. Liabilities - increase; Owner's Equity - decrease
Answer:
idk
Explanation:
All of the following are advantages to the franchisor except a. fast and selective distribution of products. b. a freeing up of capital for expansion of goods and services. c. no involvement in national advertising campaigns. d. gains from the franchisee's high motivation. e. assurance of how the outlets will be maintained and operated.
The statement that does not explains advantages to the franchisor is B:no involvement in national advertising campaigns.
The franchisor can be regarded as the original or existing business which give out its name out on a price for other business to have the right to use the name and idea. The franchisor then is responsible for continual guidance as well as support as regards general business strategies.One of the advantage of a franchisor is that they provide high motivation to the business under them.Therefore, franchisor give out their name fir a price.
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If an employer agrees to give you constructive criticism of your interview performance, you need to listen carefully and take notes. true or false?
Answer: True
Explanation:
As the employed you work for the employer which means that it is best to act in a way that the employer deems appropriate.
If the employer therefore gives you constructive criticism, it is most likely to get you to act in a way that they deem appropriate. It would be best to listen carefully and take notes for reference because chances are that such advice will benefit you greatly with other employers or with your employees should you decide to set up your own shop.
What is nation’s plan for answering the key economic questions?
Explanation:
economic decision-making
process of choosing which wants among several options will be satisfied
producers
individuals and organizations that determine what products and services will be available for sale
economic system
a nation's plan for answering the three economic questions
economic resources
means through which goods and services are produced
needs
things that are required in order to live
scarcity
not having enough resources to satisfy every need
supply
quantity of a good or service that businesses are willing and able to provide
consumer
person who buys and uses goods and services
command economy
system in which resources are owned and controlled by the government
goods
things that you can see and touch
capitalism
private ownership of resources by individuals rather than by the government
traditional economy
system in which goods and services are produced the way they have always been done
mixed economy
system that combines elements of the command and market economies
demand
quantity of a good or service that consumers are willing and able to buy
market price
point where supply and demand are equal
wants
things that add comfort and pleasure to your life
services
activities that are consumed at the same time they are produced (things that others do for you)
trade-off
giving up on something to have something else
opportunity cost
value of the alternative you did not choose
market economy
system in which the resources are owned and controlled by the people of the country
economic choices
you can't have everything so you must choose
what are the 6 tips in the economic decision making?
1. define the problem
2. identify your choices
3. evaluate your choices
4. choose one
5. act on your decision
6. review your decision
(DieCar)
unlimited wants
wants that are never-ending and build off each other
what are the three economic resources or also known as factors of production?
a. natural resources
b. human resources
c. capital resources
natural resources
resources that come from the earth, water, or air (oil, ,gold, copper, etc.)
human resources
people who work to produce your goods and services (people in labor)
capital resources
tools, building, equipment that are used to produce them
what is the basic economic problem for businesses and families?
scarcity
competition
a contest among sells to get consumers to buy their product (you)
freedom of choice
buy what you want and where you want
Compute the labor force, unemployment-rate (u-rate), adult population, and labor force participation rate if number of employed people is 100 million, unemployed people is 10 million and "not in labor force people" is 50 million.
1. Labor force: 110 million
2. Unemployment rate (u-rate): 8.33%
3. Adult population : 160 million
4. Labor force participation rate: 68.75%
To calculate the labor force, we sum the number of employed and unemployed individuals:
Labor force = Employed + UnemployedLabor force = 100 million + 10 million
Labor force = 110 million
The unemployment rate (u-rate) is the ratio of the unemployed individuals to the labor force, expressed as a percentage:Unemployment rate = (Unemployed / Labor force) * 100
Unemployment rate = (10 million / 110 million) * 100Unemployment rate ≈ 9.09%
However, the question provided the number of unemployed individuals as 10 million, which differs from the calculated value.
recalculate the unemployment rate:
Unemployment rate = (10 million / 110 million) * 100Unemployment rate ≈ 9.09%
The adult population is the sum of the labor force, unemployed individuals, and those not in the labor force:
Adult population = Labor force + Unemployed + Not in labor forceAdult population = 110 million + 10 million + 50 million
Adult population = 160 million
The labor force participation rate is the ratio of the labor force to the adult population, expressed as a percentage:Labor force participation rate = (Labor force / Adult population) * 100
Labor force participation rate = (110 million / 160 million) * 100Labor force participation rate ≈ 68.75%
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If the Retained Earnings balance at the end of year three is $1,000, what was the total amount of dividends paid over these three years
Based on these scenarios, the total amount of dividends paid over the three years could be between $4,000 and $14,000. The exact amount will depend on the actual net income for each year.
The Retained Earnings balance at the end of year three is $1,000. We need to find out the total amount of dividends paid over these three years. In order to find the total amount of dividends paid over these three years, we will use the formula: Dividends Paid = Net Income - Retained Earnings
Since Retained Earnings at the end of year three is $1,000, we know that this amount comes from net income minus dividends paid over the three years.
Therefore, Dividends Paid = Net Income - Retained Earnings= Net Income - $1,000
Since we do not have any information about net income, we cannot calculate the exact amount of dividends paid. However, we can provide a possible range of values for dividends paid based on different net income scenarios.
Let's assume that the net income over the three years was $5,000, $10,000, and $15,000 respectively.
Then, using the formula above, we get:
Dividends Paid = Net Income - $1,000= $5,000 - $1,000 = $4,000 (minimum possible dividends paid)= $10,000 - $1,000 = $9,000 (medium range of dividends paid)= $15,000 - $1,000 = $14,000 (maximum possible dividends paid)
Based on these assumptions, the total amount of dividends paid over the next three years might range between $4,000 and $14,000. The precise amount will be determined by the actual net income for each year.
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Education Career Video Assignment
In order to complete this assignment, you must first watch at least 3 of the 5 videos that are in the course under MODULE 3.01. After you have watched them, answer the following questions about 3 of the 5 jobs you learned about. Once you are finished save your file. Then upload it to the Education Careers Video Assignment dropbox.
Name:
Video #1
1. What is the job title?
2. Where do people with this career go to work?
3. What education do you need for this career?
4. Why did you choose this career?
Video #2
1. What is the job title?
2. Where do people with this career go to work?
3. What education do you need for this career?
4. Why did you choose this career?
Video #3
1. What is the job title?
2. Where do people with this career go to work?
3. What education do you need for this career?
4. Why did you choose this career?
Many operations management decisions can be described as trade-offs.
a. True
b. False
True, many operations management decisions require trade-offs between different objectives, constraints, and factors.
Tasks the executives includes pursuing choices that influence different parts of a business, like creation, stock administration, coordinated operations, and client support. Be that as it may, these choices frequently include compromises between various targets, limitations, and elements.
For instance, expanding creation productivity might bring about diminished quality, or decreasing stock levels might build the gamble of stockouts. Activities directors should cautiously consider these compromises and pick the ideal arrangement that meets their association's objectives.
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Conducting a search of the store is part of store closing duties. Why?
Think about the implications of 3-D printing. How might this technology affect the broader U.S. economy as it becomes more widely used?
3D printing has the capacity to contribute millions of factory jobs back to the United States and kick start a new wave of economic growth across a variety of industries.
How does 3D printing affect technology?3D printing improves to reduce the complexity and improve time-to-market. It helps to consolidate the different procedures required in printing and manufacturing. It has an impact on the essential global chain.
Thus, 3D printing has the capacity to contribute millions of factory jobs back to the United States
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a ________ certificate provides evidence of ownership in a specific corporation.
Answer:
Stock
Explanation:
How long does it typically take for deeper aquifers to recharge?
We need to consider various factors such as the aquifer's depth, geological characteristics, and local climate conditions. Generally, deeper aquifers take a longer time to recharge compared to shallow ones due to their depth and lower permeability.
The process of recharging deeper aquifers involves several steps:
1. Precipitation: Rain or snowfall infiltrates the ground, adding water to the soil.
2. Infiltration: Water moves downward through the soil and unsaturated zone due to gravity.
3. Percolation: Water travels through the unsaturated zone, eventually reaching the water table.
4. Recharge: Once the water reaches the water table, it becomes part of the aquifer and is available for use.
The time it takes for deeper aquifers to recharge can range from several years to thousands of years, depending on the factors mentioned earlier. The depth of the aquifer, the permeability of the geological material, and the amount of precipitation received all play a role in determining the recharge rate.
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Assume that in October 2022 the Schmidt Machinery Company (Exhibit 14.1) manufactured and sold 1,030 units for $838 each. During this month, the company incurred $412,000 total variable costs and $180,300 total fixed costs. The master budget data for the month are as given in Exhibit 14.1.
Required:
1. Prepare a flexible budget for the production and sale of 1,030 units.
2. Compute for October 2022:
a. The sales volume variance, in terms of operating income. Indicate whether this variance was favorable or unfavorable.
b. The sales volume variance, in terms of contribution margin. Indicate whether this variance was favorable or unfavorable.
3. Compute for October 2022:
a. The total flexible budget variance. Indicate whether this variance was favorable or unfavorable.
b. The total variable cost flexible budget variance. Indicate whether this variance was favorable or unfavorable.
c. The total fixed cost flexible budget variance. Indicate whether this variance was favorable or unfavorable.
d. The selling price variance. Indicate whether this variance was favorable or unfavorable.
1. Schmidt Machinery Company's flexible budget is given below: Schmidt Machinery Company Flexible Budget For October 2022Sales (1,030 units × $838)$862,940Variable costs Direct materials (1,030 units × $320)$329,600Direct labor (1,030 units × $140)$144,200Variable manufacturing overhead (1,030 units × $40)$41,200Variable selling and administrative expenses (1,030 units × $60)$61,800Total variable costs$577,800 Contribution margin$285,140Fixed costs Manufacturing overhead$112,000Selling and administrative expenses$68,300Total fixed costs$180,300Operating income$104,8402a. Sales volume variance (in terms of operating income) = Actual operating income - Flexible budget operating income= $123,800 - $104,840= $18,960Favorable variance2b.
Sales volume variance (in terms of contribution margin) = Actual contribution margin - Flexible budget contribution margin= ($938,900 - $577,800) - ($862,940 - $577,800)= $361,100 - $285,140= $75,960Favorable variance3a. Total flexible budget variance = Actual operating income - Flexible budget operating income= $123,800 - $123,800= $0Neither favorable nor unfavorable variance3b. Total variable cost flexible budget variance = Actual variable costs - Flexible budget variable costs= $412,000 - $577,800= ($165,800)Unfavorable variance3c. Total fixed cost flexible budget variance = Actual fixed costs - Flexible budget fixed costs= $180,300 - $180,300= $0Neither favorable nor unfavorable variance3d. Selling price variance = (Actual quantity sold × Actual selling price) - (Actual quantity sold × Budgeted selling price)= (1,030 units × $838) - (1,030 units × $800)= $862,940 - $824,000= $38,940Unfavorable varianceTherefore, Schmidt Machinery Company’s sales volume variance in terms of operating income was favorable, while its sales volume variance in terms of contribution margin was favorable. The total flexible budget variance was neither favorable nor unfavorable, while the total variable cost flexible budget variance was unfavorable. The total fixed cost flexible budget variance was neither favorable nor unfavorable, while the selling price variance was unfavorable.
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What does the term 'user
experience' refer to regarding a
website?
A. the overall ease of navigation and ability to
purchase on a company's website
B. the general experience a customer has when
using a product of a business
C. the customer experience when dealing with
customer service representatives
Answer:b
Explanation:
On february 2, miles inc. Pays $800 to purchase a one-year insurance policy that will expire next year on january 31. Miles indicates this transaction in its books by recording an $800 reduction in cash and an $800 increase in expenses. Did miles make the proper accounting entries? why or why not?.
If on february 2, miles inc. Pays $800 to purchase a one-year insurance policy. No miles did not make the proper accounting entries.
Insurance policy can be defined as a coverage that help to cover cost incase of unforeseen circumstance.
Based on the scenario mile did not makes the proper accounting entries based on the following:
Prepaid insurance is not an expense but an asset.Hence, the company should have offset the decrease in cash of the amount of $800 and $800 increase in prepaid insurance into an asset account.Therefore miles did not make the proper accounting entries.
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Patrice and Patrick are twins. They sit down to discuss their college plans with their parents. If both choose an in-state school, their parents will be able to cover the entire tuition costs. If either chooses an out-of-state school, there won’t be enough money to cover both tuitions. What approach is the family taking to solve the situation?
A. shared decision-making
B. personal risks
C. financial planning
D. opportunity cost
Answer:
A, "Shared decision-making"
Explanation:
Gradpoint
Answer:
A. Shared Decision Making
Explanation:
How important is money
Answer:
very important
Explanation:
money is a global income source for everyone. we all have different types but it is all still money. now say one country got rid of money and had people pay for stuff using other things. if china did that lots of different countries wouldn't be able to get stuff from there unless they had so much of that product they could just give it up.
. Suppose the market for personal computers in country A is monopolistically competitive. Country A exports as well as imports personal computers from the rest of the world. After full adjustment to the opening of trade, a firm in this industry which enjoys scale economies will: A. receive a higher price for its product. B. receive a lower price for its product. C. enjoy a greater market share. D. ultimately go out of business. __________ 16. The clustering of
Answer: B. receive a lower price for its product
Explanation:
Monopolistic competition is a market structure whereby the elements of both monopoly and competitive markets are combined. In such market structure, there are many producers in the market but they're selling differentiated products.
In this case, due to the fact that there's freedom of entry and exit, there'll be more firms coming into the market due to the supernormal profit which is made at first but in the long run, a lower price will be received for goods and services as there are many sellers in the market. Therefore, a normal profit will be made.
the area inside (within) the production possibilities frontier (ppf) contains ________ points.:
a. normative points.
b. positive points.
c. efficient points.
d. inefficient points.
e. high opportunity cost points.
The area inside (within) the production possibilities frontier (PPF) contains **inefficient points**.
The PPF is a graphical representation of the possible combinations of two goods that can be produced with the given resources and technology. The points along the PPF represent the efficient use of resources, while the points inside the PPF represent the inefficient use of resources. This is because at points inside the PPF, not all resources are being used to their full potential and/or are being used in an inefficient way, resulting in a lower level of output for both goods. These points inside the PPF are therefore inefficient, as they represent a suboptimal allocation of resources and technology. The points along the PPF are efficient, while the points outside the PPF are unattainable with the given resources and technology. Therefore, the area inside the PPF contains inefficient points.
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process
of dividing a large market into smaller groups
Answer:
Market segmentation
Explanation:
Market segmentation, the process of dividing a larger market into smaller pieces based on one or more meaningful, shared characteristics, is a way of life for almost all marketers in both consumer and business-to-business markets.
can you please mark me 'Brainliest'? thanks
Who is a better president Biden or trump ?? Just to see why some people support whoever they support.... but Biden 2020 (HONEST ANSWERS)
Answer:
Sorry dud but Trumps better
Although to be honest both of them suck. Sorry if that offended some people but its my opinion.
Biden is a lier people say he cheated during the election.
Explanation:
What is the oldest and largest association for suppliers, as well as users, that provides assistance to direct marketers in their direct marketing efforts?Theassists direct marketers to help ensure the effective functioning of trade.
The oldest and largest association for suppliers and users that provides assistance to direct marketers in their direct marketing efforts is the Direct Marketing Association (DMA).
The DMA plays a crucial role in supporting direct marketers and ensuring the effective functioning of the trade.
Established in 1917, the DMA has a long history of serving the direct marketing industry. It brings together a wide range of stakeholders, including suppliers, marketers, agencies, and technology providers, creating a collaborative platform for knowledge sharing and professional development. The association offers various resources, education programs, networking opportunities, and advocacy efforts to its members.
The DMA acts as a hub for industry best practices, research, and innovation, helping direct marketers stay updated with the latest trends and strategies. Through its initiatives, the association promotes ethical and responsible marketing practices, emphasizing consumer privacy, data protection, and transparency. By connecting suppliers with marketers, the DMA fosters business partnerships and supports the growth of the direct marketing ecosystem. Overall, the DMA is an indispensable resource for direct marketers, assisting them in achieving their marketing goals and driving success in the ever-evolving landscape of direct marketing.
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What is something that will not help you get a higher credit limit?
A: Paying off the balance of the credit card each month
B: Asking the banking company for a higher limit on your credit card
C: Maxing out the credit card and only making the minimum payment each month
D: Making more money at your job (More personal income)
Maxing out the credit card and only making the minimum payment each month is something that will not help you get a higher credit limit. A credit limit is the most money you are permitted to spend on a credit card or line of credit by a lender.
If a credit card company grants you a credit limit of $2,500, that is the most you may ever have charged to the card payment . If you charge $1,900 to your card, you will have $600 left over that you can use without paying a fee or being restricted from using the card limit further.
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If Doria needs a short-term loan, what type of loan would you recommend she seek and from what type of financial institution? Justify your recommendation.
Explanation:
Short term loans are loans which are normally needed in order to take care of an emergency.
Doria can get short term loans from banks. To get this she has to be an already existing member of this bank.
She can also get from credit unions. Their rate of interest is usually smaller than the banks own and to access a loan she has to be an already existing customer of the union.
Also there are payday loans that she can lend from and pay back on her next pay day.
I would recommend borrowing from the credit union and the reason is simple, the interest rate is lower. So what she would be paying back in addition to her loan amount is going to be low.
You are going to deposit $3,100 in an account that pays .37 percent interest per month. How much will you have in 7 years
Answer:
MILLIONS AND BILLIONS !
Explanation:
Mary invested $200 for 3 years at 5% per annum. John invested $300
at the same rate. If they both received the same amount of money in
simple interest, for how many years did John invest his money?
a. 1 1/2
b. 2
c. 3
d. 10
Answer:
b. 2
Explanation:
Simple interest is calculated using the formula
I = p x r x t
Where p= principal amount
r= interest rate
t= time in years
Mary invested $200, at 5% for three years. She earned a simple interest of;
I= $200 x 5/100 x 3
=$200 x 0.05 x 3
=$30
If John received the same amounts, It means
$30= $300 x 0.05 x t
$30 = $15t
t= $30/$15
t=2
Time is 2 years
In the United States, the trade deficit grew quite large in __________________.
A. The 1980s
B. The 1990s
C. The 2000s
D. The 2010s
B. The 1990s. The yearly U.S. trade imbalance virtually tripled over this period, rising from $39 billion to $114 billion. Manufacturing production has increased by 27% and total industrial production has increased by 24% in the United States since 1992.
A country is said to be in a trade deficit when its import obligations exceed its export revenue. When import costs exceed export earnings in the course of international trade, a trade deficit results. A negative trade balance is another name for a deficit in international trade.
Imports surged due to high domestic demand, and exports lagged behind due to low international demand, leading to expanding trade deficits. With the exception of China, all of the U.S.'s major trading partners saw weaker per capita GDP growth than the United States during the 1990s.
As a result, prior to 1970, it appeared that American industry had little to fear and much to gain from free trade. However, the nearly uninterrupted run of trade surpluses ended in 1970, and in the 1980s and 1990s, those deficits rose significantly.
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The revenue cycle of a company generally includes which accounts?a. Inventory, accounts payable, and general expenses.b. Inventory, general expenses, and payroll.c. Cash, accounts receivable, and sales.d. Cash, notes payable, and capital stock.
The revenue cycle of a company generally includes cash, accounts receivable, and sales.
Cash represents the inflow of funds from customers, while accounts receivable is the money owed to the company by its customers for goods or services that have been sold on credit. Sales refer to the revenue earned from the sale of products or services.The revenue cycle is the process of selling goods or services to customers and receiving payment from them. It involves a series of interrelated business activities that start from the moment a sale is made until the cash is collected. The revenue cycle typically includes sales order entry, credit approval, shipping and handling, billing, and cash receipts.
Inventory, accounts payable, and general expenses are not part of the revenue cycle. Inventory is the goods a company holds for sale, accounts payable represents the money owed to suppliers for the purchase of goods or services, and general expenses are the costs associated with running a business. While these accounts are important for a company's financial management, they do not directly relate to the revenue earned from sales.
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Social security and Medicare are
A. Progressive taxes
B. Payroll taxes
C. Local taxes
D. Corporate taxes
Answer:
A. Progressive taxes
B. Payroll taxes
Answer:
B. Payroll taxes
Explanation:
i just did it
what day is father day
Answer:
In this year, the date was Sunday ,June 20.
Father's Day 2021 in United States