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Gala2k [10]
3 years ago
6

In a given year, Jennifer earns $50,000 and spends $40,000. During the same period, Stcve earns $30,000 and spends $27,000. If J

ennifer and Steve both must pay a 10 percent sales tax on goods purchased, the sales tax is
(A) a higher perccntage of income for Jennifer than for Steve
(B) a higher percentage of spending for Steve
Business
1 answer:
elena55 [62]3 years ago
6 0

Answer:

The sales tax is regressive with respect to income

Explanation:

sales tax by Jennifer = 0.1*30000

                                   = 3000

tax/income = 3000/50000

                   = 6%

sales tax by steve = 0.1*27000

                                   = 2700

tax/income = 2700/30000

                   = 9%

The tax increases with decrease in income, it indeed is regressive on the whole.

Therefore, The sales tax is regressive with respect to income

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On May 7, Juanita Construction provides services on account to Michael Wolfe for $4,000. Michael pays for those services on May
Kazeer [188]

Explanation:

May 7

Credit sales of $4,000 which means accounts receivable will increase by $4,000 and Sales revenue will also raise b y the same amount

May 13

Collection on account of May 7th sales which means the account receivable will go down by $4,000 and cash will increase by $4,000

Journal entries

DATE                                     Particulars                                             Amount

May 7th                    Account receivable (+A) Dr.                                $4,000

                                                to Sales revenue (+Equity)                  $4,000

                                        ( To record the credit sales)

May 13th                 Cash (+A)  Dr.                                                         $4,000

                                                 to Accounts receivable(-A)                 $4,000

                                  (To record the receipt of cash)  

5 0
3 years ago
Foreign education loans interest subsidies by government for low income families in andhra pradesh.
Kryger [21]

Answer:

True

Explanation:

Government  of  Andhra  Pradesh  have  made  substantial  investments  through  providing  Post-Matric  Scholarships  to  SC  students  on  a  Saturation  basis.  This  laudable initiative over the years has encouraged a large number of SC students to complete professional Courses and other Graduate Courses.

Students whose family income is less than Rs.2.00 lakhs per annum from all sources are eligible. Total income from all sources of the employed candidates  or  his/her  parents/guardians,  shall  not  exceed Rs.2.00  lakhs  per  annum. (Two hundred thousand rupees per annum)

Countries Eligible for Foreign Studies under this scheme

USA, UK, Australia, Canada, and Singapore.

8 0
3 years ago
Which position or group of stakeholders has the most power in your organization or one with which you are familiar? Is their pow
MrMuchimi

The stakeholder group with the most power over the organization is the board, whose power is gained through formal positions.

<h3 /><h3>How is the board of directors formed?</h3>

It is formed by the company's owners, investors and shareholders, who occupy the highest hierarchical positions and have the greatest decision-making power over organizational actions.

The distribution of power in a company can motivate employees, because leadership is able to influence positive attitudes.

Therefore, in some companies, there is also the decentralization of functions, generating greater autonomy in the lower hierarchical positions.

Find out more about stakeholders here:

brainly.com/question/4404879

#SPJ1

4 0
2 years ago
Employers can try to overcome the moral-hazard problem involving their employees by:
BartSMP [9]

Answer:

Option D             

Explanation:

In simple words, moral hazard refers to the situation when an individual do not act with full responsibility due to the fact that any loss from their behavior will be borne by some third party.

Thus, by assessing the employees before employment by a test will help to decide the employer if the individual is worthy of the job or not. Thus, efficient employees will be selected and less mistakes will occur.    

5 0
3 years ago
6. Which of the following could cause a change in the demand curve?
Nikitich [7]

Answer:

I think that there will be change in the population consuming the good because the goods are sold according to population who consumes it.The goods are sold according to the people .If there will be a lot of population consuming the good then the business can grow rapidly . But if there will be less population then people cant sold much goods.

7 0
2 years ago
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