Answer:
The main reason the New York Federal Reserve Bank President is always on the FOMC is due to the importance of the New York Federal Reserve Bank
Explanation:
The body of the Federal Reserve System responsible for making monetary policy is the Federal Open Market Committee, FOMC
The Fed's monetary policy are executed primarily through the New York Fed and the other Federal Reserve Banks. The New York Fed does this mainly through Permanent Open Market Operations, providing lending facilities, and performing quantitative easing so as to ensure that the Fed unemployment, inflation, and interest rates policy targets are archived
The New York Fed is the primary agent through which the Fed intervenes in foreign exchange markets. The New York Fed also carries out all Fed open market transactions, and therefore is about the most important bank in the FOMC
The New York Federal is also the only one of the Federal Reserve banks that is a member of the Bank of International Settlement, provide gold storage for other foreign central banks and a good number of the largest banks in the United States are located in the New York Federal Reserve district, as
The main reason the New York Federal Reserve Bank President is always on the FOMC is therefore due to its uniqueness and the special responsibilities, functions and capacities of the New York Federal Reserve Bank
Answer:
This is likely to improve Balance of Payment (in direction of surplus)
Explanation:
Balance of Payment is a systematic account of economic transactions of a country, with rest of world.
Any item leading to inflow foreign exchange is recorded as credit transaction, & item leading to outflow of foreign exchange is recorded as debit transaction. Eg : Exports are recorded as credit transactions, Imports are recorded as debit transactions.
BOP is Balanced if : Debit (outflow) transactions = Credit (inflow) transactions ; Deficit if : Debit (outflow) transactions > Credit (inflow) transactions ; Surplus if : Debit (outflow) transactions < credit (inflow) transactions
Quota is non tariff quantitative trade restriction, imposed to discourage imports. Imposition of restrictive quotas on japanese cars reduces their imports. Other things constant, this increases net exports (exports - imports) & hence improves Balance of Payment (in direction of surplus)
Answer:Total income tax Liability = $72000
Explanation:
The question did not provide us with requirements. however after assessing the information provided in the question we can assume that the question requires us to calculate the income tax liability for the year 2019.
Differed tax arises as a result of temporary differences in the tax laws and accounting policies from example accounting strictly uses accrual system while most Receiver of tax revenue organisations in different countries they use a combination of Cash system and Accrual system.
Excess of Tax Depreciation = $40000
When tax depreciation is higher than Book Value Depreciation the Tax Base (cost - accumulated tax depreciation) will be lower that the Book value (cost - accumulated depreciation). Tax Base will be Lower by $40000 which indicates a Differed tax Liability.
Differed Tax Liability = $40 000 x 20% = $8000
Income received In advance
Income received in advance creates a Tax liability for the Wenger Corporation because Receiver of Tax revenue uses Cash system with regards to transactions of this nature.
Differed Tax Liability = $20000 x 20% = $4000
Income Tax = 300 000 x 20% = $60 000
Total income tax Liability = 60 000 + 8000 + 4000 = $72000