Explanation:
Eight varieties of saving and investment options include certificates of deposits, mutual funds, annuities, savings accounts, stocks, bonds, , real estate and commodities . A few are explained below:
Savings account:
A savings account is a great place to keep cash that you don't plan to spend immediately
MF (Mutual fund):
This invests the money in various asset classes like equities and bonds. An AMC(asset management company) makes these investments on behalf of the investors.
Real-estate: Residential, industrial, buildings and lands constitutes of real-estate.
Answer:
(i) The trial balance of Monroe Entertainment Co. is as shown below.
Amounts in $
Accounts Debits Credits
Accounts Payable 486.00
Fees Earned 2,807.00
Accounts Receivable 854.00
Insurance Expense 405.00
Prepaid Insurance 1,698.00
Land 2,275.00
cash 1,878.00
Wages Expense 519.00
Drawing 751.00
Capital <u> </u> <u> 5,087.00</u>
Balances <u> </u><u>8,380.00 </u> <u>8,380.00 </u>
(ii) Total debits is c.$8,380
Explanation:
The trial balance shows the balances of all accounts in terms of debits and credit and is used to check the mathematical accuracy of posted entries. The debits are the assets and expenses while the credits are the equity, income and liabilities.
Total debits is $8,380
Answer:
The most fair tax structure is progressive taxation.
Explanation:
Progressive taxation is the tax structure in which the higher the income of an individual, the higher the rates of taxation that person is subjected to.
This system is seen as the most fair by most individuals, including economists, because it is to be expected that people who make a lot of money pay a larger amount of taxes than people who make less.
For this reason, the majority of countries in the world use a progressive tax system.
Answer: The nation must have a mechanism capable of attracting savings and channeling them into wealth-creating projects. Option C.
Explanation: With higher savings in an economy, a country can be involved in financing higher levels of investment that will boost productivity over the longer term.
Starving the economy of savings and investments can lead to future bottlenecks and shortages.
The Harrod-Domar model of economic growth suggests that, the level of savings is a key factor in determining economic growth rates.
What this basically means is that the level of investment in an economy is limited to the level of savings in that economy.
Therefore a country must strive to attract higher savings in order to create projects that will, in return, create wealth for the country.