1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
AlladinOne [14]
3 years ago
5

Questions for the Opening Vignette Why is it important for IRS and for U.S. state governments to use data warehousing and busine

ss intelligence (BI) tools in managing state revenues? What were the challenges the state of Maryland was facing with regard to tax fraud? What was the solution they adopted? Do you agree with their approach? Why? What were the results that they obtained? Did the investment in BI and data warehousing pay off? What other problems and challenges do you think federal and state governments are having that can benefit from BI and data warehousing? What We Can Learn from
Business
1 answer:
podryga [215]3 years ago
5 0

Answer:

I have typed each answer under it's corresponding question for easier understanding.

Explanation:

1. Why is it important for IRS and for U.S. state governments to use data warehousing and business intelligence (BI) tools in managing state revenues?

<em><u>using Bi tools allows for better analysis and this woiuld make understanding and governance to be easier for the government. revenues can be very complex and difficut to understand but business intelligence tools can make it easier.</u></em>

2. What were the challenges the state of Maryland was facing with regard to tax fraud?

<em><u>the state of maryland was having issues with tax fraud  due to fraudulent returns and they were having problems detecting and investigating this because of how time consuming the process was.</u></em>

<em>3. </em> What was the solution they adopted?

<em><u>As a solution the state used a data warehouse from teradata. this gave them the opportunity to be able to identify and trace data that showed patterns of fraudulent returns. priority was made to go after refund fraud.</u></em>

4. Do you agree with their approach? Why?

<em><u>yes i agree with their approach. the reason is because the use of this tools in tracing tax fraud was an efficient way of tracing the problem and through the results appropriateways on how to combat the problem would be adopted</u></em>.

5. What were the results that they obtained? Did the investment in BI and data warehousing pay off?

<em><u>through the use of these tools the state was able to recover about 7 million dollars. therefore the investment paid off.</u></em>

6. What other problems and challenges do you think federal and state governments are having that can benefit from BI and data warehousing?

<em><u>some other problems that the government is having which can benefit  from these tools are</u></em>

<em><u>a. voter fraud</u></em>

<em><u>b. medical usage</u></em>

<em><u>c. other forms of tax issues.</u></em>

You might be interested in
Your client has been given a trust fund valued at $1.07 million. He cannot access the money until he turns 65 years old, which i
slega [8]

Answer:

285 Months

Explanation:

n = 30 years  × 12 = 360

percent rate = 5.0 % divided by 12 = 0.417.

Now recalling the statement of time value for money,

We have future value = present value × ( 1 + rate) ∧ n

future value = 1, 070,000  × ( 1 + 0.417 )  ∧ 360

future value = 3.33065667 E 60

At age 65, the value 3.33065667 E 60 will be the  present monthly withdrawal at $28,500.

present value of ordinary annuity, = annuity ( 1 - (1 + r) ∧ -n ÷ r

= 3.33065667 E 60  = 28500 (1 - ( 1 + 0.417) ∧ - n ÷ 0.417

= 3.33065667 E 60 ÷ 28500  = (1 - ( 1 + 0.417) ∧ - n ÷ 0.417

1.168651462 E 56 = (1 - ( 1 + 0.417) ∧ - n ÷ 0.417

we now introduce logs to determine the value of n

Solving further, we discovered that n= 285.

Therefore, the number of months it will last one he start to withdraw the money is 285 month

6 0
3 years ago
Of money's three functions, the one that distinguishes money from other assets is its function as a a. store of value. b. unit o
tiny-mole [99]

The one that distinguishes money from the other assets is that it is used as a medium of exchange

Explanation:

Money is one of the most important factor in our day to day lives it has become as defining the country's economic standard and it is widely accepted all over the world

Money is used as the medium of exchange because we can buy all the necessary things using the money and can use it as a medium to exchange of goods and services. There are also other important functions as the method of comparing the values

4 0
3 years ago
At year-end, Yates Company estimates that $1,500 of its accounts receivable balance is uncollectible. Yates uses the allowance m
erastova [34]

Answer:

debit to Bad Debts Expense and credit to Allowance for Doubtful Accounts

Explanation:

Based on the information provided for this scenario it can be said that the entry to record this adjusting entry would include a debit to Bad Debts Expense and credit to Allowance for Doubtful Accounts. Meaning that the bad debts expense is increasing while the same amount is being taken from the allowance for doubtful accounts. This is what the allowance method is used for, it provides an advance for uncollectible accounts, by setting aside money in a reserve account.

4 0
3 years ago
To take advantage of an arbitrage opportunity, an investor would
Svetach [21]

Answer:

The answer is III) make simultaneous trades in two markets without any net investment.

Explanation:

Arbitrage is simultaneously buying an asset ( may be currency, securities...) in a low-priced market and sell it in a high-priced market.

As a results, the investor earns profit from price differences in the two markets without risk and net investment. It is because the two trading happens at the same time once price differences in any two markets are recognized ( arbitrage opportunities recognized) and the proceed of selling the asset is immediately used for financing/returning to the buying of the asset.

Thus, (III) is the correct answer.

5 0
3 years ago
Your cousin is currently 11 years old. She will be going to college in 7 years. Your aunt and uncle would like to have $ 95 comm
zalisa [80]

Answer:

$72,679.976

Explanation:

The computation of present value is shown below:-

Present value = Future value ÷ (1 + Rate of return)^Number of years

= $95,000 ÷ (1 + 3.9%)^7

= $95,000 ÷ (1 + 0.039)^7

= $95,000 ÷ (1.039)^7

= $95,000 ÷ 1.307100055

= $72,679.97553

or

= $72,679.976

Therefore for computing the present value we simply applied the above formula.

5 0
3 years ago
Other questions:
  • Bertrand Inc. performed services for clients in the amount of $1,600 on credit. If this transaction had been posted in error to
    10·1 answer
  • Consider the market for cars. Which determinant of supply is affected by each of the following events? a. A steel tariff increas
    8·1 answer
  • What is a system for ordering items that have little or no value at the end of a sales​ period?
    13·1 answer
  • The fact that the words "whiskey makes you sick when you're well," when arranged differently, "Whiskey, when you're sick, makes
    13·2 answers
  • Luxury items in a budget come from _____. A. an income B. a deficit C. fixed expenses D. savings
    12·2 answers
  • Tara works as a senior manager at TechWin Software Inc. As part of her improvement program, she asked her team members to state
    14·1 answer
  • If a firm retains the same product for domestic and foreign​ markets, the company is demonstrating which type of product​ strate
    6·1 answer
  • g If the inflation rate is larger than the nominal interest rate: Group of answer choices the real interest rate is negative the
    13·1 answer
  • Pasadena Candle Inc. budgeted production of 785,000 candles for January. Each candle requires molding. Assume that six minutes a
    5·1 answer
  • A(n) _____ projects the types and amounts of assets a firm will require to carry out its future plans and forecasts the amount o
    5·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!