Answer:
The correct answer is option A.
Explanation:
Income tax is a tax imposed by the government on the income earned by the individuals. This income can be from capital and labor. It creates a deadweight loss in the market for labor and capital.
Deadweight loss is the loss to economic efficiency and production caused by a tax. The imposition of a tax creates a tax wedge, this tax wedge leads to a deadweight loss. Deadweight loss due to income tax is the loss of purchasing power or reductions standard of living due to tax.
The inefficiency or tax burden depends upon the elasticities of demand and supply. Whoever has the least elasticity will share most of the tax burden.
Answer:
-Say nothing to his co-workers since this was a private conversation and he could lose his job if his boss found out he was spreading sensitive company information
Explanation:
Since in the situation it is mentioned that Mark accidentally heard a confidential phone conversation in which the possibility of layoff in the sales division would be discussed he is not in danger but some of his friends are the sales representatives so mark would not tell anyone as it is a private conversation and he could lose the job if the boss knows that the information is spread by mark
Therefore the second option is correct
The answer is : Producers respond by supplying more bread
When shortage of breads increases, the demand of the product will jump through the roof, which will also increase its price
To gain the maximum profit, the producers will respond by supplying more bread until the shortage is eliminated
Answer:
a)$2,043.14
Explanation:
The discount is applicable when both items are bought together.
the total bill for the two items will be $12,695.95 + $924.95
=$13,620.90
15% discount of $13,620.90
=15/100 x $13,620.90
=0.15 x $13,620.90
=$2,043.135
=$2,043.14
Answer:
<u>debited</u>
Explanation:
Partnership refers to a mutual agreement wherein two or more individuals agree carry out a business and to share profits and losses in a specified ratio or as per the clauses of the partnership deed.
When partners retire, the balances standing to the credit of their capital accounts needs to be settled or paid off.
As per the given information, Wilma is paid $45000 in cash. The journal entry in this case would be:
Wilma's Capital A/C Dr. $45000
To Cash A/C $45000
For the remaining balance, Wilma shall be paid in cash as follows,
Wilma's Capital A/C Dr. $5000
To Cash A/c $5000
(Being settlement of a retiring partner's capital account being recorded)
