Most modern banking systems are based on group of _________

Costello Corporation reported pretax book income of $500,400. During the current year, the reserve for bad debts increased by $5

Tema [17]

Answer:

$7,266 net deferred tax expense.

Explanation:

Calculation to determine what deferred income tax expense or benefit would be

Using this formula

Deferred income tax expense=[(Tax depreciation exceeded book depreciation-Increase in reserve for bad debts)* Tax rate ]

Let plug in the formula

Deferred income tax expense=[($40,400-$5,800)*21%]

Deferred income tax expense=34,600*21%

Deferred income tax expense=$7,266

Therefore the deferred income tax expense or benefit would be $7,266

6 0

3 years ago

The definition of income effect is best defined as: ___________. Select the correct answer below: The state in which the ratio o

LenaWriter [7]

Answer:

The idea that a higher price means the buying power of income has been reduced.

Explanation:

The income effect is defined as the change in consumption of goods of services after a change of income. If income grows, it is expected that the consumption of goods and services will also grow (this can be measured by the marginal propensity to consume), and viceversa.

If prices rise, the buying power of income will be reduced even if income has grown. If prices rises even more than income, the buying effect of income will fall even more. This two statements can be both explained by the income effect concept.

8 0

4 years ago

The Harvest Company sponsors a defined benefit pension plan. The following information pertains to that plan: Projected benefit

tia_tia [17]

Answer:

260 million. The answer is not in the available options.

Explanation:

Projected benefit obligation as at January 01, 2018 250

Add: Service cost 30

Add: Interest Cost (250*6%) 15

Less: Retiree benefits paid 35

Projected benefit obligation as at December 31, 2018 260

3 0

3 years ago

Although GDP is a reasonably good measure of a nation's output, it does not necessarily include all transactions and production

anzhelika [568]

Answer:

The costs of air and water pollution

The value produced by doing your own laundry

The leisure time enjoyed by households

Business spending

decreasing

no change

Explanation:

Gross domestic product is the total sum of final goods and services produced in an economy within a given period which is usually a year

GDP calculated using the expenditure approach = Consumption spending by households + Investment spending by businesses + Government spending + Net export

Net export = exports – imports

When exports exceed import there is a trade deficit and when import exceeds import, there is a trade surplus.

Items not included in the calculation off GDP includes:

1. services rendered to oneself

2. Activities not reported to the government

3. illegal activities

4. sale or purchase of used products

5. sale or purchase of intermediate products

6. pollution

The purchase of the wood from Brazil increase investment spending by businesses and also increases imports. Import is a negative function of net export so net export would decrease.

The increase in investment spending by the business and the decrease in net export would offset each other and there would be no change in GDP

7 0

3 years ago

Victoria is an actuary for an insurance company. She recently compiled this table to help her determine health insurance premium

Drupady [299]

Wrong should be on google

3 0

3 years ago

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Most modern banking systems are based on group of __________.