Answer:
Commits the fed to set a particular money supply so that it hits the announced target
Explanation:
The target rate and money supply need to be alligned for the FED to achieve its goals.
Answer: Option (b) is correct.
Explanation:
Given that,
Revenues = $300,000
Merchandise it purchased = $75,000
Salaries paid = $14,000
Owners invested = $23,000
Borrowed on a five-year note = $23,000
Interest paid = $3,000
Paid for a two-year insurance policy = $6,800
Income tax rate = 9%
Gross Margin = Revenues - Cost of Goods Sold
= $300,000 - $75,000
= $225,000
Profit before tax = Gross Margin - Salaries - Insurance payment - Interest
= $225,000 - 14,000 - 3,400 - 3,000
= $204,600
Net Income = Profit before tax - Tax at 9%
= $204,600 - 18,414
= $186,186
Answer:
Option c. is correct
Explanation:
Under the Golsen rule, the Tax Court must follows the Court of Appeals such that the court of appeals has direct jurisdiction over the taxpayer. The Court is said to reach a decision without calculating the tax when a Tax Court decision is said to be entered under Rule 155.
In this question, The Golsen rule applies here and weakens the legal justification for the deduction
