Explanation:
when a payment is made the entries recorded are debit prepaid expenses
Answer:
False
Explanation:
Most interest rates in the economy are not set by federal reserve. For example, banks decide what interests to pay different kind of deposits and charge loans of different risks on their own (with consideration for competition and profitability).
What the Fed does is set important rates (discount rate and funds rate) that influence other interest rates in the economy.
Answer: D. The GPOA Trust automatically qualifies for the unlimited marital deduction because Paul's wife has a general power of appointment over the trust's assets.
Explanation:
General Power of Appointment Trust (GPOA) refers to a power of appointment which is a legally binding provision that's contained in a trust such that the beneficiary possess the authority to alter the beneficiaries of the trust.
In this case, Paul's wife possess the power of appointment to anyone on her behalf. Therefore, The GPOA Trust automatically qualifies for the unlimited marital deduction because Paul's wife has a general power of appointment over the trust's assets.
2016 claims the full $2,500<span> deduction if your modified adjusted gross income is </span>$65,000<span> or less. The deduction is gradually reduced when your modified adjusted gross income is between </span>$65,000<span> and </span><span>$80,000</span>
Answer:
Since cream is a key input in the production of ice cream, a shortage of it or a price increase will cause the supply curve to shift to the left. This means that the suppliers will supply less product and charge a higher price for ice cream.
Since the quantity supplied of ice cream will decrease at all price levels, this will result in shortage and:
- the equilibrium price will increase
- the equilibrium quantity will decrease
- the quantity demanded for ice cream in general (including chocolate ice cream) will decrease also.
