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2 years ago

What happens if you get pulled over without insurance?.

Business

1 answer:

ehidna [41]2 years ago

4 0

Answer:

It depends on which state you are in. In Michigan if you operate a motor vehicle on state roadways and you don't have car insurance, you could face the following: Driver's license and registration suspension. Up to one year in jail. Fines and fees up to $500.

Explanation:

You might be interested in

Jurisdiction E spends approximately $7 million each winter on snow removal. The jurisdiction is considering adding a new income

frez [133]

Answer:

'Taxes' can be defined as a compulsory contribution to the state's or country's revenues, which are levied by the governments on personal incomes of individuals or profits of the corporate, or on some transactions.

Taxes are the main source of revenues for any government, through which it receives the necessary funds to spend on various activities it undertakes for public welfare and maintaining the law and order and security of the nation.

Many theorists believe that every tax should be evaluated on certain standards and the following four standards have been mentioned for evaluating whether taxes are good or not:

Taxes should be sufficient to fulfill the government's requirements
Taxes should be convenient for the government to implement and for the citizens to pay
Taxes should be efficient economically
Taxes should be fair

There may be certain provisions introduced in the federal tax system, which are targeted to induce certain behaviors or shift people's attention towards certain activities. These provisions are called tax preferences

Does this proposed change in Jurisdiction E's tax law meet the definition of a tax preference? Explain briefly.

In the given question, the decision of the jurisdiction to give deduction to the people for the snow removal equipment they purchase, is definitely a tax preference as it induces people to invest in snow removing machines, as they are getting full deduction of such expense in income taxes.

By having this provision, the government is motivating people to invest in these machines, and people also have the benefit of having such machine with them, and also getting tax deduction for such expense, so getting such machine almost free (this applies to people who have incomes in such tax bracket only). Thus it is the way of government in encouraging people to buy snow removing machines and reduce the burden on the government. Thus it is clearly a tax preference.

Jurisdiction E forecasts that the proposed change will decrease its annual tax revenues by $250,000 but will improve the jurisdiction's financial condition by $300,000. On what assumptions is this forecast based?

The forecast regarding decrease in annual tax and improvement in financial condition is based on the assumptions of people taking benefit of such a provision, and actually investing in snow removing machines.

The jurisdiction believes that people will purchase the machines and make claims for deductions, effecting the tax revenue by $250,000. But at the same time, as many people will themselves remove the snow, the government doesn't have to spend so much on snow removal and thus make the savings of $300,000

6 0

3 years ago

Thomas Kratzer is the purchasing manager for the headquarters of a large insurance company chain with a central inventory operat

Cerrena [4.2K]

Answer:

a. 208.57 units

b. 104.29 units

Explanation:

a. The computation of the economic order quantity is shown below:

$= \sqrt{\frac{2\times \text{Annual demand}\times \text{Ordering cost}}{\text{Carrying cost}}}$

$= \sqrt{\frac{2\times \text{6,000}\times \text{\$29}}{\text{\$8}}}$

= 208.57 units

b. And, the average inventory is

= Economic order quantity ÷ 2

= 208.57 units ÷ 2

= 104.29 units

We simply applied the above formulas for calculation of the economic order quantity and the average inventory and the same is shown above

5 0

3 years ago

[7×(2+3)]-20= ? This is a grouping symbols math. This one is hard.

malfutka [58]

First solve the inner parenthesis.

[7 * (5)] - 20

Solve what is in the parenthesis.

35 - 20= 15

Hope this helps!

7 0

3 years ago

Read 2 more answers

James Company began the month of October with inventory of $19,000. The following inventory transactions occurred during the mon

Juli2301 [7.4K]

Answer:

1. Entries using periodic inventory system

October 12

Purchases $28,000 (debit)

Trade Payable$28,000 (credit)

Freight Charges $540 (debit)

Cash $540 (credit)

October 31

Trade Payable $28,000 (debit)

Cash $28,000 (credit)

October 31

Trade Receivable $28,800 (debit)

Revenue $28,800 (credit)

October 31

Inventory $28,100 (debit)

Cost of Goods Sold $28,100 (credit)

2. Entries using periodic inventory system

October 12

Merchandise $28,000 (debit)

Trade Payable$28,000 (credit)

Freight Charges $540 (debit)

Cash $540 (credit)

October 31

Trade Payable $28,000 (debit)

Cash $28,000 (credit)

October 31

Trade Receivable $28,800 (debit)

Revenue $28,800 (credit)

Cost of Sales $18,600 (debit)

Merchandise $18,600 (credit)

October 31

Merchandise $28,100 (debit)

Cost of Goods Sold $28,100 (credit)

Explanation:

1. Entries using periodic inventory system

With periodic system, inventory valuation is done at end of a specific period.

2. Entries using periodic inventory system

Perpetual system is the method of recalculating the value of goods held after each transaction

5 0

3 years ago

The Victoria Fund, a child welfare fund, received $50,000 in cash in 2018. The donor requires the gift be held in perpetuity and

maw [93]

Answer:

The $50,000 must be reported as assets with donor restrictions.

Explanation:

Donor imposed restrictions can be temporary or perpetual; the $50,000 are perpetually restricted since they must be invested and the income received should be used for its program of promoting adoption of young girls.

3 0

3 years ago