All categories

1 year ago

What are some of the services and programs that are funded by income taxes?.

1 answer:

6 0

The service and programs supported by income tax are health covers, security to the society , educational schemes, interest on the debt of the country and so on.

<h3>What are the benefits provided by the government?</h3>

The services and programs funded by income tax utilize for the welfare of the society. This income tax is used in the development of infrastructure and to increase growth opportunities in the country.

The Government purchased arms and weapons to protect the country from neighbour rival countries and provide security to the citizens. They use this amount in the invention of new medicines or research.

The Government launched new schemes to educate individuals and also provide them with employment opportunities. They also provide healthcare facilities to their citizens.

Therefore, these are the services that are funded to provide support and safety to the citizens of the country.

Learn more about government schemes, here:

brainly.com/question/5504497

#SPJ4

You might be interested in

On November 1 of year 0, Jaxon borrowed $38,000 from Bucksnort Savings and Loan for use in his business. In December, Jaxon paid

andreev551 [17]

Answer:

$570

Explanation:

The computation of the interest deduction is shown below:

= Interest paid × number of months ÷ (total number of months in a year)

= $3,420 × 2 months ÷ 12 months

= $570

The interest which is deducted in year 0 under the cash method of accounting is $570

And, the two months is calculated from the November 1 to December 31

We simply apply the interest paid formula.

4 0

3 years ago

Amex Corporation invests excess cash to purchase $25,000 in corporate bonds on March 30, 2018. In addition to the $25,000, Amex

damaskus [11]

Answer:

b. a debit to Held-to-Maturity Debt Investments for $26,000

Explanation:

Investment in corporate bonds is considered as Held-to-Maturity Debt investments.

Date Accounts Title and Explanation Debit Credit

30 Mar 18 Held-to-Maturity Debt investments $26,000

[$25,000 + $1,000)

Cash $26,000

(To record an investment in bonds)

Therefore, in the journal entry, it is debited to Held-to-Maturity Debt investments for $26,000

7 0

3 years ago

Shelly’s preferences for consumption and leisure can be expressed as U(C, L) = (C – 100) * (L – 40). This utility function impli

ludmilkaskok [199]

Answer:

Explanation:

U(C, L) = (C – 100) × (L – 40)

(a) C = (w - t)[110 - L] + 320

C = 10[110 - L] + 320

C + 10L = 1420

where,

C- consumption

w - wages

t - taxes

L - Leisure

(b) Given that,

L = 100 then,

C = 420

$MRS=\frac{MU_{L} }{MU_{C} }$

$MRS=\frac{C-100 }{L-40}$

$MRS=\frac{320}{60}$

= 5.33

C = 320

Reservation wage:

$MRS=\frac{C-100 }{L-40}$

$MRS=\frac{220}{70}$

= 3.14

(d) At optimal level,

$\frac{C-100}{L-40}=\frac{10}{1}$

C - 100 = 10L - 400

C - 10L = -300

C = 10L - 300

Using budget constraint:

C + 10L = 1420

10L - 300 + 10L = 1420

20L = 1720

L* = 86 and C* = 560

4 0

3 years ago

You are a risk-averse investor who is considering investing in one of two economies. The expected return and volatility of all

Aleks [24]

Answer:

C. A risk averse investor would choose the economy in which stock returns are independent because risk can be diversified away in a large portfolio.

Explanation:

if stock prices move together, (positive correlation), the volatility of the portfolio will be higher. Higher volatility means higher risk. This is the case with the first economy.

In the second economy however, the stocks are independent of each other meaning there is zero correlation between stocks and hence the portfolio volatility will be much lesser.

As a risk-averse investor you will prefer the portfolio with lower volatility for the same expected return.

7 0

2 years ago

All ________ are required to be members of the Federal Reserve System. Group of answer choices banks with assets less than $100

svetlana [45]

The answer is national banks chartered by the Office of the Comptroller of the Currency

6 0

2 years ago