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3 years ago

What tax does the lower class pay little in, making the middle income pay more?

1 answer:

4 0

Overall, the poorest 20 percent of Americans paid an average of 10.9 percent of their income in state and local taxes and the middle 20 percent of Americans paid 9.4 percent. The top 1 percent, meanwhile, pay only 5.4 percent of their income to state and local taxes. (I'm sorry I type slow xd).

Hope this helped!! <3

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Explain how a consumer’s place of residence has an especially large impact on their purchase of sports and entertainment commodi

ElenaW [278]

Answer:

Concept: Business digression

Lets assume you live in Los Angeles CA
LA houses the Lakers, dodgers, and so many more big brand teams.

A consumer which is defined as any person in a free and open market to openly trade their wealth and income in return for an item or service.
Residence defined as the area that surrounded the immediate perimeter of the said consumer.
Hence, by the principle of socialization people are more inclined to buy sports gear to represent their teams and inclined to participate in consumer purchases based on their peers.
It becomes the "lifestyle" and "ideal" personalities in a place such as LA and this inherently drives up sales of sports and entertainment commodities.
The location, or residence directly exposes the consumer to the products in a market where it "hot" and in style/demand.
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8 0

3 years ago

Under free market conditions, the relationship between the quantity of medical services demanded and the price of medical servic

asambeis [7]

Under free market conditions, the relationship between the quantity of medical services demanded and the price of medical services is:(D.) Inverse

What are free market conditions?

The relationship between quantity demanded and price normally, where the market forces are left to determine the happenings in the market, is inverse, in that as the quantity demanded increases prices decrease.

In the same vein, the relationship between the quantity of medical services demanded and the price of medical services, is also inverse which means that the amounts charged by doctors for medical treatment reduces, there would be more patients, since the cost is now cheaper which discourages people to seek alternative medicine.

Find out more about demand-price relationship on:brainly.com/question/26264326

#SPJ1

Full question:

Under free market conditions, the relationship between the quantity of medical services demanded and the price of medical services is:

A. Unknown

B. Equal

C. Direct

D. Inverse

3 0

1 year ago

The direct write off is used when:

Thepotemich [5.8K]

Answer:

The correct answer is letter "A": Uncollectible accounts are not anticipated or immaterial.

Explanation:

Direct write-off is a method used to record debts from credit sales. An allowance account is not used with this method but an account receivable directly written-off for the outstanding amount once it is determined to be uncollectible. This method is used for tax-reporting purposes.

3 0

3 years ago

Master Hatter's demand for hats is 25,000 per year. The order cost is $425 and the carrying cost is $4.50 per unit. The cost pai

laiz [17]

Answer with its Explanation:

Part A. Economic order quantity Computation

Economic order quantity can be calculated by using the following formula:

EOQ = Squaroot of (2* D * S / H)

Here

Ordering cost per order is $425 which is S

Annual Holding cost per unit per year is $4.5 which is H

Annual Demand is 25000 Units

By putting values, we have:

EOQ = (2 * 25000 * $425 / $4.5) ^(1 / 2) = 2173 Hats

Part B.

Total Cost at EOQ = Purchasing Cost + Total Ordering cost + Holding Cost

By putting values, we have:

Total Cost = 25,000 Units * $25 per unit + ($25,000 / 2173 Hats) * $425 + (2173 Hats / 2) * $4.5 = $634,778 Annual Cost

Part C.

For ordering at-least 2000 units per order, the total cost would be:

Total Cost under 2000 order quantity = 25,000 * $25 per unit + (25000/2000) * $425 + (2000/2) * $4.5

Total Cost under 2000 order quantity = $634,813

By ordering at least 2000 hats will bring a loss of $35 ($634,778 - $634,813), hence Master Hatter must only order in EOQ.

6 0

3 years ago

The following transactions occurred during July: Received $1,050 cash for services provided to a customer during July. Received

Anastasy [175]

Answer:

$1,575

Explanation:

We will clasify the item "revenue" or "not":

Received $1,050 cash for services provided to a customer during July -> yes, this is revenue
Received $5,000 cash investment from Bob Johnson : not revenue
the owner of the business Received $900 from a customer in partial payment of his account receivable which arose from sales in June: not revenue for July, but June which was booked in June revenue already
Provided services to a customer on credit, $525: yes, this is July revenue though it's still on account receivable
Borrowed $7,500 from the bank by signing a promissory note: not revenue
Received $1,400 cash from a customer for services to be rendered next year: not July revenue, it's customer advace and might be next year revenue once services are completed

So the amount of revenue for July = Received $1,050 cash for services provided to a customer during July + Provided services to a customer on credit, $525

= $1,050 +$525

= $1,575

4 0

3 years ago