Answer: Loan
Explanation: In simple words, loan refers to lending of money by one entity or a group of entities to some other party. The individual or organisation taking the loan have to repay it in installments in a specified period. The installment repaid is a sum of principal and the interest charged.
In the given case, Lois borrowed money from a bank and is liable to repay that loan within a specified time period.
Hence from the above we can conclude that the correct option is B.
Answer: b. Sales Returns, Wages, Machinery, Discount Allowed
Explanation:
Sales returns reduce the sales made. Sales are put on the credit side so transactions that will reduce sales such as sales returns would have to go on the debit side.
Wages are an expense and expenses are debited to show they are increasing so they have a debit balance.
Machinery is an asset and assets have debit balances.
Discount allowed reduces the sales balance and as mentioned above, transactions that reduce sales go on the debit side so this has a debit balance as well.
The level of quality of information would eventually exist in the market for lemons assuming there was no way to gain assurance regarding the accuracy of the information would be low only.
In the given scenario we are given that there is no way to reassure ourselves that the information is accurate about the lemons in the existing market.
So we can not be a hundred percent sure that the information regarding the lemons existing in the market is correct.
As a result, if there was no method to verify the authenticity of the information, only low-quality information would eventually be available in the market for lemons.
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Answer:
$152.4 million
Explanation:
The computation of the projected net income is shown below:
As we know that
Net income = (EBIT - interest) × (1 - tax rate)
where,
EBIT = Sales - operating cost
= $700 × 120% - ($700 × 120% × 65%)
= $840 - ($840 × 65%)
= $840 - $546
= $294
The interest expense and tax rate is $40 and 40%
So, the projected net income is
= ($294 - $40) × (1 - 40%)
= $152.4 million
We simply applied the above formula so that the projected net income could be come
Answer:
As people earn higher incomes during an expansion, the progressive tax system requires them to pay higher average tax rates
Explanation:
Automatic stabilizers are stabilizers that adjust the economy automatically without the intervention of external agents . examples include progressive tax and transfer payments
In an expansion, progressive tax increases the tax paid and this reduces disposable income
In a contraction, tax paid is reduced and this increases disposable income
