Answer:
The business entity concept states that the transactions associated with a business must be separately recorded from those of its owners or other businesses. Doing so requires the use of separate accounting records for the organization that completely exclude the assets and liabilities of any other entity or the owner.
If the united states government lowers the income taxes on the wealthiest americans, while decreasing welfare payments to the poorest americans, the result will likely be <u>increase</u><u> in</u>efficiency and in <u>inequality</u> in the united states
<h3>What is equality?</h3>
Equality can be defined as the way in which wealth or income are distributed equally or when their is equal wealth distribution in a society.
If the united state of America intend to reduce the income taxes of the richest people and reducing the poor people welfare payment the outcome of this action is that it will lead to inefficiency while increase equality or reducing inequality.
Therefore the result will likely be <u>increase </u>efficiency and in <u>equality</u> in the united states
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