Answer:
A) Debit Accounts Receivable, $225; credit Fees Earned, $225
Explanation:
Willis owes Jefferson $225 (= 15 hours x $15 per hour).
The accounts receivable is debited because it represents money owed to Jefferson. Since it is an asset account and it increases, it should be debited.
Fees earned is a revenue account and since it increases, it should be credited.
Answer:
The correct answer is D. imposes a small deadweight loss relative to the tax revenue it raises.
Explanation:
By not discouraging the activity, it is understood that taxes should not distort the economic decisions of the individuals subject to taxation. In the theory of Public Finance the inefficiency of taxation can be analyzed through the so-called "excess tax", as a quantification of the loss of utility generated by a distorting tax. The excess of tax arises because the loss of total welfare generated by the tax on the individual with the modification in their behavior, is greater than the mere loss of welfare caused by the decrease in disposable income that comes with the payment of the tax. The value of excess tax that is generated by the substitution effect is greater the higher the tax rate and elasticity (Musgrave, 1986). Therefore, the relationship of exchange between efficiency and equity is not so simple for governments when designing their fiscal policy.
Answer:
The answer is option B) Points-of-difference
Explanation:
The attributes or benefits consumers strongly associate with a brand, positively evaluate, and believe that they could not find to the same extent with a competitive brand is Points of Difference.
As opposed to other options, points of difference emphasizes the Unique selling point (USP) of a product and service which sets them apart to be able to compete favorably in the market. Products with clear points of difference usually cost higher but sell even better than others in the same category.
For example, an iPhone with better memory, faster processing speed, good camera quality that is higher than others in the same category would be preferred by consumers and compete better in the market regardless of the cost.
