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loris [4]
2 years ago
9

Week 8 Quiz - Taxes and W-2s (36pts)

Business
2 answers:
timama [110]2 years ago
7 0

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Arisa [49]2 years ago
4 0
1. When John received his W2, he received several copies. Why was he sent multiple copies of this form?

The different copies are for John and each tax return he may file

2. Who sent John this W-2?

John's employer - ProperLiving Widget Engineering & Design

6. Assume your employer provides health care insurance and deducts your portion of the premiums from your paycheck with pre-tax dollars. Are your health insurance premiums federally tax deductible?

Yes

7. John earned $2,500 as a life guard over the summer. This was his only job and income taxes were deducted from his paychecks by his employer. For filing a tax return, what should John do?

John should file a tax return. He can then get all of his taxed money refunded.

8. Select what would happen to your 1) taxable income and 2) tax liability when you are able to claim a deduction such as student loan interest?

1) lower 2) lower

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Duress is a possible ground for rescission of a contract.​<br><br> a. true<br><br> b. fals
WARRIOR [948]

False

Duress is used to enforce a contract, not for the rescission of a contract.

5 0
3 years ago
What would be the net effect of the government increasing the taxes by $10 billion at the same time that it decreased spending b
vazorg [7]

Answer:

a

Explanation:

4 0
2 years ago
Mr kleaners acquired new industrial washing mavhine,the list price price of which was 52000.the supplier allowedva tade discount
Cloud [144]

Answer:

I think its $48,950.

Explanation:

you subtract 4,000 from 52,000 which is 52,000 - 4,000 = 48,000.

then you will add that extra $950 getting you a total of $48,950.

if I'm wrong I'm sorry I'm not that good at math.

7 0
3 years ago
In order to minimize the difficulty associated with meeting monthly loan payments, the debt service ratio should be __________.
Andre45 [30]
In order to minimize the difficulty associated with meeting monthly loan payment, the debt service ratio should be : Below 35 %

This Ratio showed that your annual monthly income still able to cover up your loan payments after considering your housing and other expenses for your daily lives
8 0
3 years ago
Monetary Policy in Flosserland: In Flosserland, the Department of Finance is responsible for monetary policy. Flosserland has ha
evablogger [386]

Answer:

The correct answer is d) neither the long-run Phillips curve nor the Classical dichotomy.

Explanation:

The answer that best suits the situation described is the Phillips curve in the short term but not in the long term.

The Phillips curve starts from the principle that the amount of money circulating (commonly called "money supply") has real effects on the economy in the short term. In this way, an increase in the money supply would have a beneficial effect on aggregate demand, as citizens will spend more when their nominal wages are increased (known as “monetary illusion”) and a more favorable framework for investment and investment will be created. that the prospects of rising prices will improve the expectations of corporate profits. The improvement in aggregate demand would result in greater economic growth, and this in turn in the creation of new jobs. This is how an inverse relationship between inflation and unemployment is established, expressed graphically by a downward curve.

3 0
3 years ago
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