Galle Inc. entered into the following transactions during January. a. Borrowed $250,000 from First Street Bank by signing a note payable. b. Purchased $25,000 of equipment for cash. c. Paid $750 to landlord for rent for January. d. Performed services for customers on account, $10,000. e. Collected $3,000 from customers for services performed in Transaction d. f. Paid salaries of $4,500 for the current month. Required: Show the effect of each transaction using the following model. If an amount box does not require an entry, leave the cells blank. Enter decreases in account values as negative numbers.
Answers
In accounting, transactions are recorded to reflect the impact on the company's financial position.
Each transaction affects specific accounts, such as assets, liabilities, revenues, and expenses. The given transactions for Galle Inc. have been analyzed based on this framework. For example, borrowing from the bank increases the company's cash (an asset) and creates a liability in the form of a note payable. Similarly, purchasing equipment for cash decreases cash and increases the value of the equipment owned by the company. Payments for rent, salaries, and collections from customers also affect cash and various expense or revenue accounts. By accurately recording these transactions, Galle Inc. can track its financial activities and assess its overall financial position.
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Related Questions
Does the United States have a crime "problem" compared to other advanced and industrialized nations? Why or why not?
Why are the definitions of crime and criminal behavior critically important to political entities? Explain.
Answers
Assessing whether the United States has a crime "problem" compared to other advanced and industrialized nations is a complex matter that requires careful analysis and consideration of various factors. It is essential to recognize that crime rates and their comparison can be influenced by numerous socio-economic, cultural, and demographic factors.
Here are some points to consider:
Crime Rates: When evaluating crime levels, it is crucial to examine various crime indicators, such as violent crime rates, property crime rates, or specific types of offenses. Comparative analysis should consider the specific types of crimes and the frequency at which they occur.
Data and Reporting: Comparing crime rates across nations can be challenging due to differences in reporting practices, data collection methodologies, and legal definitions. Variations in crime reporting and recording practices can affect the accuracy and comparability of crime statistics.
Socio-economic Factors: Crime rates are influenced by socio-economic factors such as poverty, income inequality, unemployment rates, educational attainment, and social welfare systems. These factors can vary among countries and have an impact on crime levels.
Cultural and Demographic Differences: Cultural and demographic factors, including population density, diversity, social norms, and attitudes towards crime, can also affect crime rates. These factors can differ significantly among nations, leading to variations in crime levels.
Regarding the definitions of crime and criminal behavior, they are critically important to political entities for several reasons:
Legal Framework: Definitions of crime form the foundation of a country's legal system. They define what actions are considered unlawful and provide guidelines for law enforcement, the judiciary, and the criminal justice system to identify, prosecute, and punish offenders.
Consistency and Fairness: Clear and precise definitions of crime ensure consistency and fairness in the application of laws. It helps prevent arbitrary or discriminatory enforcement and ensures equal treatment under the law.
Public Safety and Order: Defining criminal behavior helps protect public safety and maintain social order. By identifying and categorizing certain behaviors as crimes, governments can establish rules and regulations that help deter individuals from engaging in harmful actions and protect citizens from harm.
Resource Allocation: Accurate definitions of crime assist in resource allocation for law enforcement, judicial processes, and correctional systems. It enables governments to focus their efforts and resources on combating specific types of criminal behavior based on their severity and impact on society.
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Jermaine and Denise are the owners of a small company. They are moving to a new office space and need to decide on a layout that will work best for them and their 12 employees. Jermaine wants to have one big communal workspace for all employees, including Denise and himself; a conference room; a big break room; and two smaller rooms with doors where employees can go if they need to have a private telephone conversation with a client. Denise wants offices for Jermaine, herself, and their two department managers; cubicles for all other employees; a conference room; a meditation room; and a small break room. After talking, Denise and Jermaine each agree to make certain concessions in order to get what they want. Together, they agree that Denise and Jermaine will have offices, and the managers and other employees will share a communal workspace. They will also have a conference room, a meditation room, a large break room, and one room for private calls with clients. What conflict management strategy have Jermaine and Denise used?
Answers
Answer:
compromising strategy
Explanation:
Compromising strategy is the conflict management strategy have Jermaine and Denise used.
What is compromising strategy?The "compromise" strategy aims to find a feasible solution that substantially, but not entirely, allayes the concerns of the parties involved. To purchase a car or home, end a divorce, or resolve labor contract issues, compromise is a common strategy.
When an agreement is reached and the parties part ways, the compromise process could enable both parties to feel secure in the knowledge that they have come up with a workable solution.
Compromise is defined as finding a middle ground or giving up some of your concerns while remaining dedicated to those of others. Striking a balance is the goal of this largely cooperative, fairly strong technique.
Thus, it is Compromising strategy.
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T/F : The checklist model of project screening has a mechanism to accommodate the differential importance of relevant criteria
Answers
False: The checklist model of project screening does not have a mechanism to accommodate the differential importance of relevant criteria.
Does the checklist model consider the importance of criteria?The checklist model of project screening is a simple and straightforward approach that involves the use of a predefined list of criteria to evaluate potential projects. It does not explicitly account for the differential importance of these criteria.
In this model, each criterion is typically given equal weight, regardless of its significance. This means that all criteria are treated equally and there is no mechanism to adjust their relative importance based on their relevance to the project or its objectives.
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Daffy Duct, Inc. issued 10,000 shares of $1 par value common stock at $5 per share. The effect of this transaction on the accounting equation includes a ______. (Check all that apply.)
Answers
The effect of this transaction on the accounting equation includes a is $50,000 increase in total stockholder's equity
$50,000 increase in total assets
Par value common stock = $5 per
Daffy Duct, Inc. issued = 10,000 shares
Preferred are issued with a hard and fast par fee and pay dividends based totally on a percent of that par, normally at a hard and fast rate. similar to bonds, which also make fixed payments, the marketplace fee of preferred shares is touchy to adjustments in hobby fees.
The simplest outcomes of a stock cut up are on the quantity of stocks tremendous and on the par price of the inventory. The assets, total stockholders' equity, and the additional paid‐in capital money owed of the company are not affected.
Par fee is the value of a single common share as set by a business enterprise's constitution. It isn't always generally related to the actual value of the stocks. In reality it's miles regularly lower. Any stock certificate issued for stocks bought shows the par cost. when authorizing shares, a agency can pick out to assign a par value or now not.
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IBM expects to pay a dividend of $5 next year and expects these dividends to grow at 7% a year. The price of IBM is $90 per share. What is IBM's cost of equity capital
Answers
Based on the information given, IBM's cost of equity capital is 12.56%
Share Price = Dividend Next Year / [Cost of Equity - Growth Rate]
$90 = $5 / [R - 0.07]
$90 * {R - 0.07] = $5
{R - 0.07] = $5/$90
R - 0.07 = 0.055556
R = 0.055556 + 0.07
R = 0.125556
R = 12.56%
In conclusion, IBM's cost of equity capital is 12.56%
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Which of the following terms refers to the present value of the right to receive a lump sum payment of $1 at the end of a particular year, given a specified discount rate?A. Net present valueB. Present value factorC. Future valueD. Net operating income
Answers
The term that refers to the present value of the right to receive a lump sum payment of $1 at the end of a particular year, given a specified discount rate is option B) the present value factor.
This factor is used to determine the present value of a future cash flow, and it takes into account the time value of money, which is the idea that money is worth more in the present than in the future due to factors such as inflation and the opportunity cost of investing the money elsewhere.
The present value factor is calculated using the discount rate, which is the rate of return required to compensate for the risk and time value of money. It is important to consider the present value factor when evaluating investment opportunities or making financial decisions based on future cash flows.
It is calculated as 1 / (1 + r)^n, where r is the discount rate and n is the number of periods. This helps in evaluating the worth of future cash flows in today's terms, allowing for better decision-making in financial matters.
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an invoice used as a source document for recording a sale on account. is called
Answers
An invoice used as a source document for recording a sale on the account is called a sales invoice.
A sales invoice is a document used by a seller to notify a buyer of the products or services they have sold and the amount due for payment. It includes information such as the names of the buyer and seller, the date of the sale, a description of the items sold, the quantity sold, the price per unit, any applicable discounts, and the total amount due.
The sales invoice is important because it serves as a legal record of the transaction and provides evidence of the sale and the terms agreed upon by the buyer and seller.
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Aurora township is asking all of its citizens to chip in and donate money to build a new library. tommy thinks he already pays enough money in taxes, so he chooses not to donate. he knows that even if he does not contribute he will be able to use the library once it is built. This is an example of:
a. Adserve selection
b. The free rider problem
c. Asymmetric information
d. Tragedy of the commons
e. Moral hazard
Answers
Since Tommy knows that even if he does not contribute he will be able to use the library once it is built, this is an example of: B. The free rider problem.
What is the free rider problem?In Economics, the free rider problem can be defined as a type of market failure and burden that typically occurs when people who benefit from public goods (products) or shared resources refuse to pay for them or financially contribute to their development.
This ultimately implies that, a free rider problem simply refers to a type of problem that typically exists or arises when people who cannot be excluded from using a good (product) choose not to pay for it.
In this context, we can reasonably infer and logically deduce that the refusal of Tommy to donate money to build a new library because he knows he would be able to use it once it is built, is an example of the free rider problem.
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When a corporation repurchases its bonds from the bondholders, the corporation the bonds.
Answers
These bonds are called retired bonds. The bonds are referred to be retired bonds when a corporation repurchases them from the bondholders. They are called so because they have been repurchased from the investors.
- More about retired bonds :
- Repurchasing previously issued bonds from investors is referred to as retired bonds. At the time of the instruments' scheduled maturity, the issuer retires the bonds. Another method of retirement is for the issuer to repurchase the bonds sooner if the bonds are callable.
- In the case of bonds, it means that the corporation is effectively returning the principal to the investors who purchased loans from them and discharging its debt obligations. Retired securities are those that have undergone this type of purchase back.
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- The complete question is :
When a corporation repurchases its bonds from the bondholders, the bonds are called ____ bonds.
After zappos. Com identified the needs of its target customer segment, what two marketing actions did the company take to fulfill the needs of its target customer?.
Answers
After zappos.com identified the needs of its target customer segment, the two marketing actions the company can take to fulfill the needs of its target customer are offering a big selection of shoes, free returns, and quick shipping.
A marketing Strategy is a means by which a business can accomplish its objectives because a proposition's ability to sell is only as strong as the number of individuals who are aware of it.
Marketing Strategy Goals:
-to enhance the level of teamwork in the marketing department.
-to evaluate marketing performance in accordance with relevant performance requirements.
-to offer a rational foundation on which to base any decision.
-to increase our capacity for adaptation in the event that marketing changes.
Functions of marketing strategy:
-Motivate yourself to plan far in advance.
-Improved and more focused marketing coordination.
-Can create achievable company goals.
-Marketing activity supervision is more successful in terms of job performance requirements.
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Carve Inc. purchased a building and the land on which the building is situated for a total cost of $700,000 cash. The land was appraised at $320,000 and the building at $480,000.
A. What is the accounting term for this type of acquisition?
B. Determine the amount of the purchase cost to allocate to the land and the amount to allocate the building.
C. Would the company recognize a gain on the purchase?
D. Record the purchase in a statement model.
Answers
A. The accounting term for this type of acquisition is PPE.
B. The amount of the purchase cost to allocate to the land and the amount to allocate the building is $280,000 and $40,000
C. No, the company would not recognize a gain on the purchase.
D. The purchase in a statement model will be recorded as
Land dr. $280,000
Building dr. $420,000
To Cash $700,000
A. The accounting term for this type of acquisition is "Property, Plant, and Equipment" (PPE).
B. Determining the amount of the purchase cost to allocate to the land and the amount to allocate the building:
Total appraised value of the land and building:
=$320,000 (land) + $480,000 (building)
= $800,000
Percentages for land and building:
Land = $320,000 / $800,000
= 0.4 (40%)
Building = $80,000 / $800,000
= 0.6 (60%)
Purchase cost:
Land = $700,000 × 0.4
= $280,000
Building = $700,000 × 0.6
= $420,000
C. The company would not recognize a gain on the purchase because the purchase is a capital expenditure, not a revenue-generating transaction.
D. To record the purchase in a statement model, the entries would look like this:
Debit Land for $280,000
Debit Building for $420,000
Credit Cash for $700,000
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Fill in the customer satisfaction survey You go to your in-house database, which houses eCompeteUSA's domestic and international sales as well as revenue composition over the past 10 years. You examine this data and apply some statistical analysis in order to help decide where to go next. What should you present at the next meeting to put your investigation on the right path?a. Present the trends in the growth of the U.S. eSports market, because the majority of eCompeteUSA's sales are domestic.b. Present data on eCompeteUSA's current revenue streams, broken down by source with sales trend extrapolations.c. After further consideration, you decide to step back and work on defining the research problem.
Answers
Answer: After further consideration, you decide to step back and work on defining the research problem.
Explanation:
Based on the options given, the answer will be "After further consideration, you decide to step back and work on defining the research problem".
It should be noted that the research problem isn't stated and one doesn't really know what the person wants to do. Do the right thing is to work on the research problem first before doing any other thing.
Tracking a website you visit and compiling information could be an example of _____.
Answers
Answer:
ISP
Explanation:
Internet Service Providers (ISPs) can see everything you do online. They can track things like which websites you visit, how long you spend on them, the content you watch, the device you're using, and your geographic location.
to create disinflation, the federal reserve must lower the nominal interest rate. to create disinflation, the federal reserve must lower the nominal interest rate. true false
Answers
False, to create disinflation, the federal reserve must lower the nominal interest rate. to create disinflation, the federal reserve must lower the nominal interest rate.
Interest is the payment made at a specific rate by a borrower or deposit-taking financial institution to a lender or depositor of an amount over and above the principal amount. Interest is the cost of borrowing money or the fee you charge to lend it. Most frequently, interest is shown as an annual percentage of the loan amount. The interest rate for the loan is denoted by this proportion. Nearly 1,500 people work for Federal, which produces shotshell, centerfire, and rimfire ammunition as well as its components. A document's publication in the Federal Register notifies a public official that it exists, identifies the agency's legal standing to issue the document, and grants it the status of admissible evidence.
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Pandosy Inc. has declared a 4.80 per share dividend.
Suppose capital gains are not taxed, but dividends are taxed at 15 percent. Pandosy sells for 68.20 per share, and the stock is about to go ex dividend. What do you think the exdividend price will be?
Answers
The ex-dividend price, given the capital gains, and the share dividend declared is $ 63. 40.
How to find the ex- dividend price ?To calculate the ex-dividend price, we need to subtract the dividend per share from the current stock price. The ex-dividend price reflects the decrease in the stock price that typically occurs after the dividend is paid out.
Given:
Dividend per share = $4.80
Current stock price = $68.20
To calculate the ex-dividend price:
Ex-Dividend Price = Current stock price - Dividend per share
Ex-Dividend Price = $68.20 - $4.80
Ex-Dividend Price = $63.40
Therefore, the ex-dividend price is estimated to be $63.40 per share.
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Income received by households through the lending of their money to corporations and business firms is an example of
income.
Answers
Answer:
Interest / Dividend Income
Explanation:
Answer:
Answer for EDGE is C or Interest
Explanation:
how can formal business documnets help managers solve problems
Answers
Managers can fix problems by providing clear, precise information about them.
Who is the managers?A manager is someone who is in charge of managing or monitoring the business. He or she is an acting leader who helps set objectives and allocate responsibilities. He or she also exemplifies specific leadership traits that support the efficient running of the business.
The manager will be assisted in evaluating the situation and providing complete information by the formal business document.
They will be better able to handle the problem as a result. In addition, these documents will give them the precise information that the manager would need.
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What is telecommuting?
Answers
Answer:
Telecommuting is the practice of working from home using the internet, by including email, and using the telephone.
Explanation:
Answer: Telecommuting is the practice of working from home using the internet, by including email, and using the telephone.
Explanation: Its right for 4515Vs2 - Business Leadership -2019
The term performance quality refers to: Multiple Choice Customer satisfaction with the total experience of a product or service. The gap between product design specifications and actual performance of the product. The gap between actual performance of a product and customer expectations. Costs related to meeting customer demands and quality-related expectations. The difference between customer expectations (for attributes, services, functionality, etc.) and product design.
Answers
Answer:
The gap between product design specifications and actual performance of the product.
Explanation:
The term performance quality refers to the gap between product design specifications and actual performance of the product.
This ultimately implies that, a performance quality refers to a measure of the level at which the primary characteristics of a product that is being manufactured by a producer operates. Therefore, all the elements of the commitment made in a product that is to be sold to consumers by the producer is the performance quality of a product.
Hence, business firms or companies should endeavor to design a level of performance that is appropriate, effective and efficient to their customers, so as to increase the customer's level of satisfaction and enhance the chances of them using the product in the future.
you should try to get the lowest interest rate possible in which situation
(A) you are lending money to a bank
(B) you are borrowing money from another person
(C) you are lending money to another person
(D) you are putting money in a savings account
Answers
Answer:
B. you are borrowing money from another person
Explanation:
rest is you giving money to others which if you could youd want higher interest rates for
Answer:
You are borrowing money from another person.
Explanation:
Match the different account heads to the two aspects of business.
Answers
Answer:
See below
Explanation:
Match Source A
The business owns:
Are assets that belong to the business.
investments
intangible assets
Property, Plant, and Equipment
Current assets
Match source B
Match owes :
Refer to the liabilities of the business. They belong to others.
loans
payable
HELP!!!
A fashion boutique manager is responsible for doing the annual books for the
shop. The boutique has managed to bring in $100,000 in revenue this year,
and their expenses for the year total $25,000. What profit did the boutique
make for the year?
O A. $40,000
O B. $25,000
O c. $75,000
D. $100,000
Answers
Explained: 100,000(total)-25,000(expenses)
It is important to balance your check book every month Bc
Answers
Answer:
This is one of the reasons it’s a good idea to balance your checkbook more often than once a month, especially if you are newly adopting this financial task. You will have fewer transactions to comb through if you balance once a week or once every two weeks.
Explanation:
Amiri, who belongs to the Maori tribe, aspires to be a deputy sheriff in Upper Elm County. Amiri sports a small moko tattoo across his cheeks and nose as a symbol of his heritage. Per the dress code, however, sheriffs are not allowed to have any visible tattoos. Amiri is told that he will need to remove his tattoo before he can apply to be a deputy sheriff. Which of the following will hold true in this scenario?
a. Amiri will prevail in a national origin discrimination claim under Title VII of the Civil Rights Act of 1964 because his tattoo honors his heritage.
b. Upper Elm County can defend itself against Amiri's claim if it can be shown that the tattoo overlaps with his religion.
c. Upper Elm County can defend itself against Amiri's claim because a dress code is permissible under Title VII of the Civil Rights Act of 1964.
d. Amiri will prevail in a national origin discrimination claim if he uses the bona fide occupational qualification defense to show that his tattoo does not disrupt the dress code.
Answers
The following will hold true in this scenario Upper Elm County can defend itself against Amiri's claim if it can be shown that the tattoo overlaps with his religion.
What is religion?Religion is commonly defined as a social-cultural system of specified behaviors and practices, morals, beliefs, worldviews, texts, sanctified places, prophecies, ethics, or organizations that generally relate humanity to supernatural, transcendental, and spiritual elements; however, there is no scholarly agreement on what precisely constitutes a religion.
Amiri's accusation can be refuted by Upper Elm County because Title VII of the Civil Rights Act of 1964 permits dress codes. The Maori tribe member Amiri wants to work as a deputy sheriff in Upper Elm County.
Therefore, Thus option (B) is correct.
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Matt is the curator at a large national museum. He researches and catalogs new art pieces that are submitted to the museum. What education might have been necessary for Matt to attain this position? O A. O B. O C. O D. high school diploma associate degree in performing arts bachelor's degree in art history doctorate in computer sciences
Answers
The best education for Matt to attain the position of curator at a large national museum is an Option C. bachelor's degree in art history.
A curator is a person who is in charge of the collection and display of artifacts in a museum. Curators are responsible for organizing exhibits, acquiring new collections, and keeping the existing ones in good shape, among other duties. The work of a curator demands a high degree of knowledge of the materials they handle, in addition to organizational skills and the ability to engage with the public.
Curators must typically hold a bachelor's degree in a field related to the collection they oversee. Art history, anthropology, or archaeology are popular majors for curators. Additionally, they should have experience in their particular field of expertise. Furthermore, many museums will require their curators to have a Master's degree or Ph.D. in their field or a related one. These degrees are obtained in specialized postgraduate degree programs, and they demonstrate a deeper understanding of the subject matter and a commitment to the field.
The education for Matt to attain this position would be a bachelor's degree in art history. Art history is the study of visual art throughout history. It is an academic discipline that combines cultural and historical perspectives to examine and understand visual art. In this field, you will learn about artists and their works, styles and movements, and the cultural contexts that surrounded them. This knowledge is critical to the work of curating art collections, and it will enable Matt to be efficient in his job. Therefore, the correct option is C.
The question was incomplete, Find the full content below:
Matt is the curator at a large national museum. He researches and catalogs new art pieces that are submitted to the museum. What education might have been necessary for Matt to attain this position?
A. high school diploma
B. associate degree in performing arts
C. bachelor's degree in art history
D. doctorate in computer sciences
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By subtracting current liabilities from current assets, you are able to determine____
Answers
Answer:
Working Capital
Explanation:
Ten years have passed since Arnell issued $18 million in perpetual interest only debt with a 5% annual coupon. Tax rates have remained the same at 21% but interest rates have dropped, so Arnell's current cost of debt capital is 2%.
a. What is Arnell's annual interest tax shield?
b. What is the present value of the interest tax shield today?
Answers
Based on the provided information, a. Arnell's annual interest tax shield is $1.89 million and b. the present value of the interest tax shield today is $94.50 million.
a. Arnell's annual interest tax shield can be calculated using the formula;
Interest tax shield = Interest rate x Debt amount x Tax rate.
The Interest rate is 5%, Debt amount is $18 million, and the Tax rate is 21%.
Therefore, Arnell's annual interest tax shield = 5% x $18 million x 21%= $1.89 million.
b. The present value of the interest tax shield can be calculated using the formula;
Present Value (PV) of Interest tax shield = Interest tax shield / Cost of debt capital.
The interest tax shield is $1.89 million, and the cost of debt capital is 2%.
Therefore, Present Value of Interest tax shield = $1.89 million / 2% = $94.50 million.
Hence, present value of the interest tax shield is $94.50 million.
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Which type of interest will allow principal to grow quicker?
A) Compound
B) Simple
C) It grows the same.
This question is from economic and personal finance
Answers
Compound interest bases the interest paid each period on both the principal debt and any accrued but unpaid interest. Interest grows over time.
What kind of interest expands more quickly?It is obvious that money grows faster when it earns compound interest compared to when it earns basic interest. If you invest $2,000 at an interest rate of 8.5% compounding twice a year for five years, to return to the example above, your final total will be $3,032.43.
Simple interest or compound interest accumulates more quickly?Compound interest accelerates the growth of your money since it calculates interest on both the initial principal and the interest that has accrued over time. Compounding can have a snowball effect, where the initial investments grow along with the revenue generated by those assets.
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Tax Structure 1
Family
A
B
C
Income
$10,000
$50,000
$100,000
Tax amount
2,000
2,000
2,000
% of income paid as
tax
[a]
[b]
[C]
Answers
The percentage of income paid as tax for A is 20%.
The percentage of income paid as tax for B is 4%.
The percentage of income paid as tax for C is 2%.
What is tax?A tax is a mandatory financial charge or some other type of levy imposed on a taxpayer (an individual or legal entity) by a governmental organization in order to fund government spending and various public expenditures (regional, local, or national).
The percentage of income paid as tax for A is:
= 2000/10000 × 100
= 20%.
The percentage of income paid as tax for B is 4%.
The percentage of income paid as tax for C is 2%.
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When setting prices of products, businesses want to make sure they can
cover their costs and make
A. a markup
B. an allowance
C. a discount
D. a profit
Answers
Answer:
When setting prices of products, businesses want to make sure they can cover their costs and make:
D. a profit
The setting prices of products, businesses want to make sure they can cover their costs and make a profit. Thus, option (d) is correct.
What is businesses?The term “business” refers to earning a profit. The business is taking the risk and earning the profit. The business is mainly focused on the activities of the creation, distribution, and selling of concepts. The businesses are interested in the investment as a future perspective.
The business is the main motive for earning the profit. Businesses are increasing productivity as a result of rising profits. From the location to the facilities such as medical facilities, proper furniture, employee liberty of work, training, internet facilities, and furniture, etc., businesses are improving. The cost plus extra amount is called the profit.
As a result, in the setting prices of products, businesses want to make sure they can cover their costs and make a profit. Therefore, option (d) is correct.
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