Answer:
Explanation:
If the overall increase in net assets remains the same at $154,000 then the program revenues and expenses were not included in the final figures for the government-wide financial statements. These two items were presented individually but should have blended with the total amount.
If these two figures were combined with the overall increase in net assets, the new figure would surmount to $137,600. This causes a decrease of $16,400 in net assets.
Net Assets = 154,000 + 47,600 – 64,000 = $137,600
Decrease amount = 154,000 – 137,600 = $16,400
Answer:Christie's 2020 gross income= $172,000
Explanation:
According to IRS, under the tax benefit rule Amount of punitive damages and amount of recovered medical expenses is to be added to gross income, $240,000 for the loss of future income of will not be included.
Therefore we have that
Christie's 2020 gross income=Punitive damages + Recovered medical expenses = $160,000 + $12,000 = $172,000
Efficiency of handling the economic system is correct. The free market gave an organized structure of production. But freedom, in a free market is not. Historically, free market was not a result of freedom it started with slavery. Massive production needed expansion of foreign lands, so the people in that country was not free as well. They are under force labor. Free market was not free when some countries already gained ground before some had just started. There is no freedom in a monopoly set up, but you are given the chance and the risk in a free market.
