Who pays the tax does NOT depend on who write the check to the government.
Who pays the check ultimately depend on the elasticity of supply and demand. This is because, suppliers have several ways of passing the taxes levied on them by the government to the consumers in form of increase in price of their products. But this also depend on the elasticity of the products, because if the prices are too high, some customers may decide to buy somewhere else or to go for a substitute.<span />
Answer:
<em>The</em><em> </em><em>difference</em><em> </em><em>between</em><em> </em><em>what</em><em> </em><em>it</em><em> </em><em> costs to make and</em><em>sell a product and what a customer pays for is referred to as</em>
Tariffs, non-tariffs, import quotas and voluntary export restraints
Answer:
10.0 years
Explanation:
The computation of the payback period is shown below
We know that
Payback period = initial cost ÷ increase in net income
= $30,000 ÷ $3,000
= 10 years
As the depreciation expense is a non-cash expense so we dont considered it
Therefore the first option is correct
Answer:
$61,390
Explanation:
Calculation to determine What does Engler record as the cost of the new truck
Using this formula
Cost of new truck=Purchase price+Sales tax, painting +Logo on the side of the truck +Safety testing +Tune up and oil change
Let plug in the formula
Cost of new truck=$55,000 + $4,000 + $1,600 + $290 +$500
Cost of new truck= $61,390
Therefore what Engler will record as the cost of the new truck is $61,390
