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Alex17521 [72]
3 years ago
14

A city government imposes a proportional income tax on all people who earn income within its city limits. In​ 2004, the​ city's

income tax rate was 0.050.05 ​(55 ​percent), and it collected ​$20.0020.00 million in income taxes. In​ 2005, it raised the income tax rate to 0.060.06 ​(66 ​percent), and its income tax collections declined to ​$19.2019.20 million. What happened to the​ city's income tax base between 2004 and​ 2005?
Business
1 answer:
lukranit [14]3 years ago
8 0

Answer:

The city's income base fell by $80 million

Explanation:

If during 2004 the city was able to raise $20 million with a 5% income tax, then the city's income base was:

($20 million / 5) x 100 = $400 million

If during 2005 the city was only able to raise $19.20 million with a 6% income tax, then the city's income base lowered to:

($19.20 million / 6%) x 100 = $320 million

This means that the city's income base was reduced by $80 million (= $400 million - $320 million)

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In a retail cash sales environment, which of the following controls is often absent?
JulijaS [17]

Answer:

The correct answer to the following question is option b) Separation of functions.

Explanation:

In a retail environment , the cash management process starts when a customer pays the cashier for the product or services he or she has purchased. The cashier then counts the cash in till drawer and then at end of the day cashier takes that cash to the third party who can be either manager or owner or a supervisor. Then cashier would receive a receipt against the cash for till drawer.

Now supervisor would collect cash from all the cashier and prepare the cash to be deposited in bank. So from this process it is quite clear that here there is separation of functions here and while all other options given in the question are present in the process.

6 0
3 years ago
True or False: Computing interest using the sum-of-the-digits method allocates more interest at the beginning of a loan than at
Serhud [2]

Answer:

True

Explanation:

To illustrate how the sum-of-the-digits method allocates interest we can use a lease example:

You are the lessor and you will lease a machine during 4 years. The lease requires 4 equal payments of $100,000 at the beginning of the year. After the lease, the asset's salvage value = $0.

The asset's current value = $300,000, so total interests received = $100,000

Using the sum-of-the-digits method, you will allocate interest as follows:

  • year 1 = 3/6 x $100,000 = $50,000
  • year 2 = 2/6 x $100,000 = $33,333
  • year 3 = 1/6 x $100,000 = $17,000

The largest portion of interests is allocated during the beginning of the loan.

5 0
3 years ago
When people reply to formal job announcements, they are writing a(n) ______ cover letter since it is for an open position that a
Zarrin [17]
The choices were; a. informal, b. chronological, c. serialized, d.conversational, e. solicited.

The answer is, e. solicited. 
A solicited letter is written by the job hunter to the employer. It indicates the kind of working position the job hunter is applying for and also how she/he had learned there is a job opening in that position. 

The employer gets a specific idea on the job hunter's intention and also learn that the ads or announcement reached them.
8 0
3 years ago
Tariffs are used to encourage global trade between two countries.<br> a. True<br> b. False
ira [324]
Tariffs are intentional taxes on imports from other countries. They are used to drive taxes up so that goods made in the country are more attractive to consumers. Because of this, other countries retaliate and raise their taxes too.

The answer is B: False
3 0
3 years ago
Read 2 more answers
When asked why she participated with other students in a protest against treatment of women on her campus, Kai says that all hum
stira [4]

Answer:

The correct answer is A. postconventional.

Explanation:

This level of moral development consists of an approach from a perspective superior to society. The person who reaches this level sees beyond the norms of his own community, reaching the principles on which any good society is based. Very few adults manage to have a postconventional trial.

Those individuals who reach the postconventional level have their own ethical principles, which include basic human rights such as life, freedom and justice; they see the rules as useful but modifiable mechanisms, instead of absolute norms that must be obeyed without questioning.

Because individuals with a postconventional reasoning overlap their own moral evaluation of situations about social conventions, their behavior, especially in stage six, can sometimes be confused with that of those who are in the preconventional stage.

7 0
3 years ago
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