Opponents of tax reforms intended to raise saving argue that such reforms a. favor those with high income, and that saving may not rise because of the substitution effect. b. favor those with high income, and that saving may not rise because of the income effect. c. favor those with low income, and that saving may not rise because of the substitution effect. d. favor those with low income, and that saving may not rise because of the income effect.
Answers
Answer:
Option B
Explanation:
In simple words, under such tax reforms the government is intending to raise indirect taxes which will lead to higher prices of certain goods and is also declining taxes on savings. Both of these steps will work as an incentive for individuals to save more.
However a big majority of community is stating that this will only lead to more burden on the weaker section due to higher prices of commodities and will eventually result in lower standard of living for certain individuals.
Related Questions
When determining whether you NEED to file a federal tax return, each of these questions matters EXCEPT...
1.What state do you live in?
2.How much income did you earn this year?
3.What type of income did you earn this year?
4.Are you claimed as a dependent on anyone else's tax return?
Answers
:)
A- The state you live in should not hold importance when filing the income tax return. The all other options are required to be filed as they are important to determine the tax slabs and deductions a person may get.
Suppose two persons earn exactly same income in a particular year and both the people belong to a different state, in such case both the person will be liable for equal taxation.
While filing an income tax return, there are various things that need to be disclosed so as to determine what tax slabs a person belongs to and what are the deduction he may avail.The amount of income, the nature of income like income from salary/business or profession/house property/other sources and whether such person is taxable or not due to dependency on others needs disclosed. To conclude it doesn't matter which state a person belongs for the taxability of such person while filing an income tax return.Hence, the correct option is A that the the residency of state of such person will not matter for the purpose of filing his tax return.
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Mr Ashok has a company, and has an option to issue different types of preference shares. State all the types preference shares a company can issue.
Answers
Cumulative preference shares: These are types of shares where shareholders are given the right to receive dividends for those years where dividends could not be paid due to insufficient profits.
Non-cumulative preference shares: These are types of shares where shareholders are not given the right to receive dividends for those years where dividends could not be paid due to insufficient profits.
Participating preference shares: With participating preference shares, the issuing company must pay an increased dividend to the owners of preference shares if there is a participation clause in the share agreement. This clause states that a certain portion of earnings (or of the dividends issued to the owners of common stock) will be distributed to the owners of preferences shares in the form of additional dividends.
Convertible preference shares: These are preference shares that can be converted into common stock if a shareholder wants to change its holding position. They are converted into a predetermined number of preference stocks.
Non-convertible preference shares: These are preference shares where the holder of a preference share has not been conferred the right to get their holding converted into equity share.
Redeemable preference shares: These are preference shares that can be repurchased or redeemed by the issuing company at a fixed rate and date.
In summary, a company can issue different types of preference shares, including cumulative, non-cumulative, participating, convertible, non-convertible, and redeemable preference shares.
SWOT analysis is not a subjective process.
True
False
Answers
SWOT analysis is not a subjective process. The statement stated above is False.
What do you mean by Analysis?An analysis is significant because it arranges and interprets data before structuring it into presentable knowledge that is applicable to practical applications.
A subjective evaluation of facts that is logically arranged according to the SWOT structure to aid in understanding, presentation, discussion, and decision-making is known as a SWOT analysis.
Internal elements, such as strengths and weaknesses, rely on the goal, project, or initiative under analysis. What is a strength for one purpose or project could be a drawback for another since it is subjective to the chosen objective.
Therefore, The statement is false. A SWOT analysis is a subjective assessment of data.
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explain the difference between a flat tax and a graduated income tax. in your own words.
Answers
Answer:
flat tax is a set percentage that dies not change
graduated tax changes according to the amount being taxed. usually, the higher the amount, the higher the tax rate is.
Fill out the tax forms for:Ivy Perry, age 40, is single and has no dependents. She is employed as a legal secretary by Legal Eagle Beagle, Inc. She owns and operates Type It located near the campus of Florida Community College at 200 College Road. Ivy is a material participant in the business. She is a cash basis taxpayer. Ivy lives at 6020 College Road, Pensacola, Fla. 33210. Ivy's Social Security number is 123-44-5678. Ivy indicates that she wishes to designate $3 to the Presidential Election Campaign Fund. During 2021, Ivy had the following income and expense items: a. $50,000 salary from Legal Eagle Beagle, Inc. b. $20,000 gross receipts from her typing business c. $700 interest income from Florida Community Bank. d. $1,000 Christmas bonus from Legal Eagle Beagle, Inc. e. $60,000 life insurance proceeds on the death of her brother. f. $5,000 check given by her wealthy uncle g. $100 won in a bingo game. h. Expenses connected with the typing business: Office Rent Supplies Utilities and telephone Wages paid to part-time typists Payroll Taxes Equipment Rentals $7,000 4,400 4,680 5,000 500 3,000 i. $8,346 interest expense on a home mortgage (paid to Florida Community Savings& Loan) j. $5,000 fair market value of silverware stolen from her home by a burglar on October 12 2021; Ivy had paid $4,000 for the silverware on July 1, 2008. She was reimbursed $1,500 by her insurance company k. Ivy had loaned $2,100 to a friend, Deb Dobson, on June 3, 2018. Deb declared bankruptcy on August 14, 2021 , and was unable to repay the loan. Legal Eagle Beagle, Inc. withheld Federal income tax of $7,500 and FICA tax of $3,551 (which was adequate for 2021). Assume the loan is a bona fide debt. 1. m. Alimony of $10,000 received from her former husband, Tony Springfield. n. Interest income of $800 on City of Pensacola bonds. o. Ivy made estimated Federal tax payments of $1,000. p. Sales tax from the sales tax table of $654. q. Charitable Contributions of $2,500. What is the Total income, Adjusted gross income, Taxable income, Tax liability, and amount of federal tax due or refunded.
Answers
Based on the provided information, Ivy Perry's tax situation for 2021 is as follows:
Total Income: $71,800
Adjusted Gross Income (AGI): $47,220
Taxable Income: $34,670
Tax Liability: $3,961.40
Federal Tax Refund: $4,538.60
What is taxation?Taxation is the imposition of compulsory levies on individuals or entities by governments.
It should be noted that Taxes are levied in almost every country of the world, primarily to raise revenue for government expenditures, although they serve other purposes.
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SunRay Foundation, a corporation owned and managed by volunteers, supplies medicines and vaccines to impoverished people in Asia and Africa. Its focus is not on earning a surplus but on serving the community. SunRay Foundation is an example of
Answers
Answer:
" Nonprofit corporation" is the right solution.
Explanation:
A non-profit corporation would be an organization constructed again for benefit of the community better, for compassionate or some other kind of government service primary motivations, instead of just merely to generate a financial gain on its own, as when the customer requested to be doing. The strongest reason for utilizing the whole degree of formal entity is that everything is responsible for claim federal and state taxes on just about any earnings the corporate entity receives, with exception of for corporate entities.Mariah was appointed to a two-year term on Garden City’s planning board. She’s looking forward to meeting her fellow board members and working collaboratively on issues that affect their town. She’s been told that the first order of business is a revision of the document that outlines the community’s long-term needs and provides guidance on capital budgeting for those needs. What is this document called?
Answers
Mariah was appointed to the Garden City Planning Board for a two-year term. The first item of business, she's been instructed, is to revise the document that specifies the community's long-term needs and gives recommendations on capital spending for those needs. This paper is known as the Comprehensive Master Plan.
What is the purpose of a comprehensive plan?A comprehensive plan is a document created for a city, county, or specific region that sets an overarching plan and recommended activities for the area's current and future needs.
A comprehensive plan also known as a "master plan," "general plan," or "community plan" is a long-term planning document that communicates a community's overarching vision, goals, objectives, policies, and strategies for future expansion (or smart contraction), development, and preservation.
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You arrive at the restaurant & are told that the food needs an extra 15 minutes to cook. What would be a good text to send the customer?
Answers
Answer:
"The restuarant said the food needs 15 more minutes to cook. Sorry for the wait!"
Explaination:
maybe something along the lines of that??
A good text to send the customer will be "Please, kindly note that the food will be ready in fifteen minutes, Thank you".
It should be noted that when the customer arrive at the restaurant, he'll have expected the food to be ready. Therefore, it's important that the restaurant workers attend to the customer very well.
The text that should be sent will be "Please, kindly note that the food will be ready in fifteen minutes, Thank you". It's important to show courtesy and use nice languages to appeal to the customer.
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10 POINTS HELP HELP HELP
Answers
What is the main reason that people purchase insurance policies?
A. they want to reduce the cost of their student or personal loans.
B. They want to avoid paying for major unexpected expenses.
C. They want to avoid increasing their monthly premiums
D. They want to invest money in insurance to grow it over time
Answers
Option B is correct. The main reason that people purchase insurance policies is because they want to avoid paying for major unexpected expenses.
What is an insurance policies?An insurance policy can be defined a contract between the insurer and the policyholder which determines the claims which the insurer is legally required to pay. The policy is enforced in an exchange for an initial payment known as the premium in which the insurer promises to pay for loss caused by perils covered under the policy language.
Most of the insurance contracts are designed to meet specific needs and thus have many features not found in many other types of contracts. Because these insurance policies are standard forms, they often feature boilerplate language which is similar across a wide variety of different types of insurance policies.
Some examples of the popular insurance policies includes a Life Insurance, Health Insurance, Disability Insurance, Homeowner's Insurance, Automobile Insurance, Liability Insurance etc,
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Computing Earnings per Share Lee Corp. had 200,000 weighted average common shares outstanding in 2020 and 5,000 weighted average preferred shares outstanding in 2020. Lee Corp. reported net income of $450,000 in 2020, and declared and paid $50,000 and $10,000 of common stock and preferred stock dividends, respectively. Compute earnings per share for Lee Corp. for 2020.
Answers
Answer:
$2.20 per stock
Explanation:
Earnings per share (EPS) = (net income - preferred dividends) / weighted average stocks outstanding
net income = $450,000 weighted average stocks outstanding = 200,000preferred stock dividends = $10,000earnings per share = ($450,000 - $10,000) / 200,000 = $440,000 / 200,000 = $2.20 per stock
For each of the below, indicate where each item should be presented in the statement of cash flows (using the indirect method) using the legend below. Also, indicate how cash flows are affected. Legend for BLANK 1: A - operating activities B - investing activities C - financing activities D - significant noncash investing and financing activities Legend for BLANK 2: I - Increase D - Decrease N - No effect
Answers
Answer:
Blank 1 Blank 2
i. Depreciation expense A I
ii. Purchase of office equipment B D
iii. Decrease in accounts receivable A I
iv. Payment of cash dividends C D
v. Conversion of bonds into common stock D N
vi. Sold land and warehouse used in the corp. B I
vii. Gain on sale of land and warehouse in part vi. A D
viii. Issued common stock for cash C I
ix. Decrease in accounts payable A D
x. Increase in inventory A D
Explanation:
Note: This question is not complete. The complete question is therefore provided before answering the question. See the attached pdf for the complete question.
How each of the item will appear in the the statement of cash flows (using the indirect method) is also provided below:
XYZ Company
Statement of Cash Flows (Indirect Method Format)
For the year...
Details $ $
Operating activities:
Net profit xxx
Adjustment to reconcile net income:
i. Depreciation expense xx
iii. Decrease in accounts receivable xx
vii. Gain on sale of land and warehouse in part vi. (xx)
ix. Decrease in accounts payable (xx)
x. Increase in inventory (xx)
Net cash flows from operating activities xxx
Investing activities:
ii. Purchase of office equipment (xx)
vi. Sold land and warehouse used in the corporation xx
Net cash flows from investing activities xxx
Financing activities:
iv. Payment of cash dividends (xx)
viii. Issued common stock for cash xx
Net cash flows from investing activities xxx
Net cash flow for the year xxx
Beginning cash balance xxx
Ending cash balance xxx
Note: The does not affect the cash flows statement:
v. Conversion of bonds into common stock
Mutual aid agreements
Answers
A pharmacy has determined that a healthy person should receive 70 units of
proteins, 100 units of carbohydrates and 20 units of fat daily. If the store carries
the six types of health food with their ingredients as shown in the table below,
what blend of foods satisfies the requirements at minimum cost to the
pharmacy? Make a mathematical model for the given problem.
Answers
Answer:
Explanation:
69
Amber’s starting salary for her new job will be $35,500 a year. How much will she pay to the Social Security system for her first year assuming total FICA withholdings of 7.65%?
Answers
Answer:
I dont know the answer but I want whatever job she has
7. The banking system and the simple deposit multiplier.
I have finished the following problem. Is it correct?
Answers
A banking system is a collection of institutions that provides us with financial services.
What is the meaning of the banking system?
A set of financial organizations known as a banking system offers us financial services. These companies are in charge of managing the financial system, lending money, taking deposits, and offering investment advice.
A payment account with fundamental features, a device for utilizing the account the ability to withdraw cash, the execution of financial transactions, and an electronic means of identification are all included in a basic banking system.
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Changes in the market environment impact _____
how competitive the marketplace is
how many offerings are available
how many marketing communication channels are used
how consumers behave
Answers
Changes in the market environment impact how competitive the marketplace is, how many offerings are available, how many marketing communication channels are used, and how consumers behave.
Aspects of the business landscape are significantly impacted by changes in the market environment. First and foremost, they have an impact on the level of market competition because changes in variables like technology, rules, and consumer preferences can affect how businesses compete with one another.
Changes in the market environment can also have an impact on the variety and range of goods and services that are offered to customers. New technologies and trends have an impact on how businesses communicate with their target audiences through marketing channels. Last but not least changes in the market environment such as those in the economy in social trends and in technological advancements have a significant impact on consumer behavior causing changes in buying patterns and preferences.
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1. Describe an example from your past where you have been effective in inspiring other
leaders around a common purpose and shared values.
2. How effective are you today at empowering other people to step up and lead? How do
you go about doing this? What are you doing to improve your effectiveness?
3. Recall a situation in which you faced a conflict between empowering other people and
reaching your performance goals.
a. How did you resolve the conflict?
b. Did you give preference to reaching your goals or to your relationship?
c. Would you act differently in the future when facing a conflict between
relationships and performance?
Answers
Answer:
One effective way to inspire other leaders around a common purpose and shared values is to lead by example. I demonstrate a commitment to the values and purpose that are important to the team. Furthermore, I consistently take actions that align with those values and purpose. These steps can inspire others to do the same. Additionally, I create opportunities for open and honest communication, collaboration, and shared decision-making. These measures can help build trust and empower other leaders to promote the team's success.Empowering others to step up and lead can involve creating opportunities for skill-building and growth, providing guidance and support, and giving people the autonomy to make decisions and own their work. To improve effectiveness, I seek feedback from others. I also informed about best practices and emerging trends in leadership. Lastly, I continuously work on developing communication, coaching, and mentoring skills.Get instant answers, essays, and research papers through proffrank01 at g m ail.con. This helps you score maximum points without straining too much.
3. When facing a conflict between empowering other people and reaching performance goals, I considered the long-term impact of each decision. I prioritized relationships and empowered others to better outcomes in the long run. This required a short-term sacrifice to reach immediate performance goals. I communicated openly and honestly with the team about the situation and worked collaboratively to find a solution that aligns with both performance goals and relationship-building. In the future, I could reflect on the situation and consider how to approach similar conflicts in a more proactive manner.
Explanation:
How have cloud-based applications changed the way people edit documents?
Answers
We can actually deduce here that cloud-based applications has changed the way people edit documents by allowing multiple users to access, review and edit a document in real time but from different locations.
What is cloud-based application?A cloud application is actually known to be a software application that is known to be deployed in a cloud environment and not actually hosted on a local server but accessible via the internet.
Cloud computing is the technology that is changing how people store and share files. Documents can be stored in the cloud system for years and accessed from anywhere and at anytime.
We see here that with cloud collaboration multiple users can work on a document at real time.
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In which of the following business situations would it be a mistake to assume that the rapid expansion will continue forever? a. ownership change b. fast growth c. start-up d. LLC e. none of these
Answers
(b) Fast growth is the ideal choice. A perpetuity is a kind of annuity that is guaranteed to continue indefinitely. For all eternity, the cash flows will keep coming in.
Where in the business plan do the mission statement, objectives, goals, and strategies of the company are described?Commercial description The industry, your product, and the business and success aspects are all covered in this section. It need to offer both a present outlook and predictions of forthcoming trends and changes.
Which of the subsequent represents the first step in creating a budget?Identifying the monthly amount of money you have coming in is the first step in making a budget. Your net income can be calculated by looking at your wage.
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Critically discuss SIX causes of differences in accounting practices used in different countries.
You must discuss, with relevant examples, how a particular factor contributes to or leads to a particular difference in accounting practices.
Answers
Answer:
Six causes of differences in accounting practices used in different countries is explained below with detail explanation.
Explanation:
The following are six problems of the variation in Accounting practice practiced in different nations.
Environmental FactorsLegal SystemsCultural DifferenceTaxationFinance providersInflationLegal System :
The legal system of a nation performs an essential role in the development of Accounting policies.
Taxation :
In some countries, Accounting and Taxation are dependent on each other. Whereas in other countries they are independent.
Inflation :
Inflation doesn't remain the same for every country. Uniform accounting practice cannot be followed because of this reason.
Cultural Differences/Diversity :
Cultural diversity plays a pivotal role in the Accounting practice of each country. Cultural practices lead to different practices being followed across the globe.
Environmental Factors :
Many countries have started to incorporate environmental Accounting in their financial statements.
An office worker earns R6400-00 per month. His monthly expenses are 1/5 for rent, 2/7 for his car payment, 1/6 for insurance, 1/3 for other monthly living expenses and the rest he deposits in a savings account. How much does he save per month?
Answers
The office worker saves approximately R91.43 per month.
How to calculate How much does he save per monthTo calculate the amount the office worker saves per month, we'll need to determine the portion of his income that is not spent on expenses.
Let's break down the monthly expenses:
Rent: 1/5 * R6400 = R1280
Car payment: 2/7 * R6400 ≈ R1828.57
Insurance: 1/6 * R6400 ≈ R1066.67
Other living expenses: 1/3 * R6400 ≈ R2133.33
Total expenses: R1280 + R1828.57 + R1066.67 + R2133.33 = R6308.57
To find the amount saved per month, we subtract the total expenses from the monthly income:
Monthly income - Total expenses = R6400 - R6308.57 ≈ R91.43
Therefore, the office worker saves approximately R91.43 per month.
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What is ROL in the hotel industry and how is ROL calculated?
Answers
The ROI in the hotel industry help to calculate the economic value of the activities, and can be calculated by finding the return through hotel establishment.
What is ROl in the hotel industry?Return of interest can be described as the one that help with the economic value as a result of the various activities.
It should be noted that it help to give the measurement of the yield that is been gotten from an investment as well as ion making calculation about the return.
In conclusion , the Return of interest can be gotten by making the division of the profit that is been generated by the cost of that investment.
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NOTE; This is a complete question , no given option , even on the internet.
_____ of all students who do not complete high school cannot find work
Answers
Almost half of the current population, or those without a high school diploma, are unable to obtain employment. So, Option B is the right choice.
Describe a school:A person or individual may enroll in any vocational program or choose any employment of their choosing to get the necessary skills to treat and be in good health on their own.
It depends on how mature and sophisticated they are. Reading and writing skills, as well as knowledge of what is healthy and unhealthy for an individual, are all taught in schools.
When it comes to finding work opportunities, a person who has not finished high school have not graduated, and they are unable to obtain a decent job, which leads to unemployment.
As a result, Choice B is accurate.
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CQ
_____ of all students who do not complete high school cannot find work. a. Two thirds b. One half c. One quarter d. Three fourths Please select the best answer from the choices provided A B C D
What type of entrepreneurial activity would you engage in?
Answers
A service industry can provide the followings, except.
(a) Road construction (b.) Recreation (c.) laundry (d.) Hotel
Answers
A service industry can provide the followings, except road construction.The service industry plays a vital role in the economy and society by offering a wide range of services that meet the needs and wants of consumers(Option A).
A service industry is a type of business that provides services rather than tangible products to customers. Examples of service industries include healthcare, education, hospitality, transportation, and professional services such as accounting and consulting.
Among the options given, the service industry cannot provide road construction. Road construction is typically done by government agencies or private construction companies that specialize in infrastructure development.
On the other hand, recreation, laundry, and hotel services are all common offerings of the service industry. Recreation includes activities such as sports, entertainment, and tourism. Laundry services involve the cleaning and pressing of clothing and linens, and hotels provide accommodations for travelers. By providing quality services, service providers can build strong relationships with their customers and gain a competitive edge in the market.
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When you arrive for your job interview, the interviewer greets you with a warm handshake and a smile. While you speak, he smiles and nods often and occasionally takes notes.
What message is the interviewer expressing nonverbally?
a. He is passively enduring your interview.
b. He is actively engaged in your interview.
c. He is uncomfortable meeting with you.
Answers
Answer:
b. He is actively engaged in your interview.
Explanation:
In most cultures, smiling implies friendliness. In the United States, nodding and maintaining consistent eye contact show interest and engagement in a conversation and respect for the speaker. By combining these three nonverbal behaviors, the interviewer is expressing active, positive interest in your interview.
A fixed asset with a cost of $31,588 and accumulated depreciation of $28,429.20 is sold for $5369.96. What is the amount of gain or loss on disposal of the fixed asset
Answers
Answer:
$2,238.16
Explanation:
In the disposal of assets, gain or loss will be a comparison between the book value and the selling price.
Book value is the asset costs minus accumulated depreciation.
in this case, the book value will be
= Asset cost - Depreciation
= $31,588- $28,429.20
=$3,158.8 is the book value.
Gain or loss = selling price- book value
=$5,369.96 - $3,158.8
=$2,238.16
A gain of$2,238.16 will be gain from that sale.
Select the correct answer.
Diversity awareness is the ability to understand and respect other cultures. Which interpersonal skill might be affected by a lack of diversity
awareness?
ОА
teamwork
OB
time management
OC goal-setting
OD self-representation
Answers
Answer:
Teamwork
Explanation:
Suppose a firm manager has a base salary of $175,000 and earns 0.5 percent of all profits. Determine the manager's income if revenues are $10,000,000 and profits are $5,000,000. A) $150,000 B) $200,000 C) $225,000 D) $300,000
Answers
The manager's income is $200,000.
The option (B) is correct.
The expression "income" for the most part alludes to how much cash, property, and different exchanges of significant worth got over a set timeframe in return for administrations or items. There is no single, standard definition: pay is characterized by the setting in which the idea is utilized.
Income includes monetary as well as non-financial upsides of recompenses and perquisites. All pay is available under personal expense except if explicitly excluded.
Given;
Fixed salary = $175,000
Earns 0.5% of all profits
Profit = $5,000,000
Manager income = Fixed salary + 0.005 * Profit
Manager's income = $175,000 + 0.005 * $5,000,000
=> Manager's income = $175,000 + $25000
=> Manager' income = $200,000
Thus, the manager's income is $200,000.
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