Answer: a. $5,520
Explanation:
She may claim the Personal property taxes (ad valorem) of $520 as well as the State income tax of $5,000.
Adding them up would give,
= $5,000 + $520
= $5,520
The itemized deduction Karen may claim for taxes on her return is $5,520.
Answer:
False
Explanation:
In a command or planned economy, the factors of production are owned and controlled by the government. The government makes all the significant economic decisions such as production, distribution, and pricing.
The government prepares a central plan for the entire economy. The plan determines the production level, the goods and services to be produced, and their prices. The central government employs all workers. The private sector does not exist.
Answer:
Revenue
Explanation:
The closing entries for the following accounts are as follows:
1. Service Revenue A/c Dr XXXXX
To Income Summary XXXXX
(Being revenue account closed)
2. Income summary A/c Dr XXXXX
To Expenses A/c XXXXX
(Being expenses accounts are closed)
3. Income summary A/c Dr XXXXX
To Retained earning XXXXX
(Being the difference is credited to retained earning)
4. Retained earnings A/c Dr XXXXX
To Dividend A/c XXXXX
(Being dividend account is closed)
Answer:
1.667
Explanation:
% Change in Quantity Demanded in units = (1650 - 1500 / 1500)*100 = (150/1500) * 100 = 10%
% Change in Price = [(1.06x-x)/x]*100 = (0.06/1)*100 = 6%
Cross-price elasticity of demand is given Ec = (% Change in Quantity Demanded of good / % Change in Price of good)
Cross-price elasticity of demand = 10% / 6%
Cross-price elasticity of demand = 0.10 / 0.06
Cross-price elasticity of demand = 1.6666666667
Cross-price elasticity of demand = 1.667
Therefore, the cross-price elasticity of demand of State Farm Auto Policies is 1.667.
Answer:
The correct answer is letter "B": usage rate.
Explanation:
The usage rate of a product reflects how often individuals would consume the same product. The rate studies <em>customers' behavior and their buying patterns </em>to give businesses an idea of how often they could make a profit out of the pockets of one consumer. Then, firms direct their efforts to increase that rate by offering their clients additional services that might make the product appealing for repurchase.