Answer:
The Rex’s gross income from the partnership in 2019 and 2020 is $1,20,000 and $1,80,000 respectively
Explanation:
The computation of the gross income for each year is shown below:
In 2019:
Gross income = Taxable income × percentage of interest in profits
= $400,000 × 30%
= $1,20,000
In 2020:
Gross income = Taxable income × percentage of interest in profits
= $600,000 × 30%
= $1,80,000
The withdrawn amount is not consider for computing the gross income. So, we ignored it
Which of the following terms is a general description for a group of crimes?
A) Robbery
B) Larceny
C) Burglary
<u>D) Theft</u>
Answer:
The correct answer is letter "D": the revenue a government created by printing money.
Explanation:
<em>When the government prints more money, there will be more supply of it. A higher supply of money tends to increase general prices causing inflation. Therefore, households will have to pay more money for goods and services which implies they will be paying more taxes, benefiting the government since it will have more money to finance its projects.
</em>
The previous practice mentioned is implemented by governments that are not willing to increase the interest rate directly.
Answer:
Inelastic; 5%; fall; 10%; rise
Explanation:
Price elasticity of demand is always negative for normal goods. This happens because of the law of demand, that demand falls with rise in price.
Price elasticity between 0 and 1 shows inelastic demand.
This means that there is smaller change in demand due to a greater change in price level.
Price elasticity of demand is -0.5.
If the price falls by 10%, demand will increase by 5%.
The revenue will fall, because of greater fall in price.
If the price increases by 20%, demand will fall by 10%.
Revenue will increase because of greater increase in price.
Answer:
160
Explanation:
Reorder point is the inventory level at which new order are placed to prevent a down time due to stock out and and holding cost are also at the minimal level .
<u>Workings</u>
Annual demand = 8000
Ordering cost = $50
Holding cost = $20
Operating days = 250
Lead time =5 days
Re order point = Average daily usage * Average lead time
Average daily usage = 8000/250 = 32
Reorder point = 32*5 =160
