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Strike441 [17]
3 years ago
6

By how many packs of cigarettes does quantity demanded decrease due to the excise tax on cigarettes?

Business
1 answer:
andrezito [222]3 years ago
3 0

Answer:

Explanation:

The government taxes packs of cigarettes both to discourage smoking and to raise tax revenue. The average excise tax on a pack of cigarettes is $2.50 per pack. The table below presents the annual demand and supply schedules, in billions of packs, both before and after the tax on packs of cigarettes.

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A company borrowed $10,000 from the bank at 5% interest. The loan has been outstanding for 45 days. Demonstrate the required adj
valkas [14]

Answer:

The required adjusting entry would be to debit the Interest expense account and credit the Interest payable account

Explanation:

Following the Accrual accounting - an accounting method that revenue or expenses are recorded when a transaction occurs rather than when payment is received or made.

The company borrowed $10,000 from the bank at 5% interest. The loan has been outstanding for 45 days. At the end of a period, if required adjusting entry, the adjusting entry:

Debit Interest expense  and Credit  Interest Payable

3 0
3 years ago
Shangrilah Sandals is a manufacturing firm in a developing country, where it routinely uses grease payments to local officials t
julia-pushkina [17]

Answer:

b. cultural relativism

Explanation:

Cultural relativism refers to the ideology that what applies to current situation do not necessarily apply to another situation also.

As in the given instance the Shangrilah Sandals make grease payments in their own country as it is a developing country, but do not practice the same in another country called US as it is a developed country.

As the income of people in that country is high they do not believe in taking or accepting grease payments.

Thus, the correct option is:

b. cultural relativism

4 0
3 years ago
Lang Co. issued bonds with detachable common stock warrants. Only the warrants had a known market value. The sum of the fair val
12345 [234]

Answer: discount on bonds payable

Explanation:

Based on the information given, since the sum of the fair value of the warrants and the face amount of the bonds exceeds the cash proceeds, then the excess will be reported as the discount on bonds payable.

The discount on the bonds payable occurs in a scenario whereby the bonds are issued for a lesser amount than their face or their maturity amount.

The reason for this is when the bonds have a stated interest rate that is smaller than market interest rate for similar bonds.

6 0
2 years ago
A large corporation suffers from the​ principal-agent problem when​ its:
amm1812
<span>The correct answer is d. management does not own a large share of firm stock and pursues its own interests rather than those of shareholders.When management pursues its own interests, there is a conflict with the interest of the shareholders who hired the management in the first place.</span>
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3 years ago
Read 2 more answers
Which statement is NOT true?
Kisachek [45]

Explanation:

The Answer Is C. That's It

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2 years ago
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