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MrRissso [65]
3 years ago
10

A black market is A. a market in which buying and selling take place at prices that violate government price regulations. B. ver

y similar to a​ "gray" market except that the goods and services exchanged are imported. C. a market in which all transactions involve activities​ (such illicit​ drugs, prostitution,​ etc.) many in the population find morally offensive. D. a market in which buying and selling take place at prices consistent with government price regulations.
Business
1 answer:
bekas [8.4K]3 years ago
6 0

Answer:

The answer is: A) a market in which buying and selling take place at prices that violate government price regulations.

Explanation:

Black markets happen when entities (individuals or businesses) engage in trading of goods and services that are prohibited by the governments. Or when the entities engage in trading activities and do not want to pay taxes from those transactions.

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An international children’s charity collects donations, which are used to buy clothing and toys for children in need. The charit
MatroZZZ [7]

Answer:

Required 1

<u>General Journal</u>

Cash $8,500 (debit)

Donations Revenue $8,500 (credit)

<em>Cash and Checks received as Donation Revenue</em>

<em />

Wages Expenses $3,000 (debit)

Cash $3,000 (credit)

<em>Wages to employee paid</em>

<em />

Note Payable $3,420 (debit)

Cash $3,420 (credit)

<em>Repayment of Short Term Loan</em>

<em />

Supplies $4,920 (debit)

Cash $2,080 (credit)

Note Payable $2,840 (credit)

<em>Purchase of Toys on cash and on credit</em>

<em />

Supplies $4,020 (debit)

Donations Revenue $4,020 (credit)

<em>Donations revenue received in form of Toy Supplies</em>

Required 2

Net Income is $9,520

Explanation:

<u>Calculation of Charity’s preliminary net income.</u>

Donations Revenue ($8,500 + $4,020)  $12,520

Less Expenses :

Wages                                                       ($3,000)

Net Income/ (Loss)                                    $9,520

7 0
3 years ago
phyllis, who is single, has itemized deductions totaling $20,000. she overpaid her 2018 state income tax and is entitled to a re
Lapatulllka [165]

It is true that if an overpayment resulted in a tax benefit, it makes no difference whether it is reimbursed or used to reduce the 2019 state federal income tax due.

The Internal Revenue Service (IRS) imposes a levy known as the federal income tax on the yearly income of people, businesses, trusts, and other legal entities. All forms of income that constitute a taxpayer's taxable income are subject to federal income taxes, including wages, salaries, commissions, bonuses, tips, investment income, and certain categories of unearned income.

Individual federal income tax rates in the US are progressive, which means that they rise in proportion to taxable income. Federal income tax rates range from 10% to 37%, and they become effective at a certain level of income. Tax brackets are the ranges of income that the rates apply to. Income that is subject to each bracket is taxed at that rate.

Learn more about Federal income tax  here

brainly.com/question/2986643

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3 0
1 year ago
Cotton White, Inc., makes specialty clothing for chefs. The company reported the following costs for 2018: Factory rent $ 42,000
Doss [256]

Answer:

Results are below.

Explanation:

<u>1) Direct materials are those materials and supplies that are consumed during the manufacture of a product, and which are directly identified with that product.</u>

<u></u>

Direct material= Thread + Premium quality cotton material + Buttons

Direct material= 1,000 + 42,000 + 750

Direct material= $43,750

<u>2) Direct labor is production or service labor that is assigned to a specific product, cost center, or work order.  </u>

Direct labor= Wages paid to seamstresses  + Wages paid to cutters Direct labor= 75,000 + 50,000

Direct labor=  $125,000

<u>3) Manufacturing overhead refers to indirect factory-related costs that are incurred when a product is manufactured</u><u>.</u>

Manufacturing overhead= Factory rent + Utilities for factory + Cutting room supervisor's salary + Factory insurance + Depreciation on sewing machines

Manufacturing overhead= 42,000 + 22,000 + 30,000 + 15,000 + 6,000

Manufacturing overhead= $115,000

4) Total manufacturing costs= 43,750 + 125,000 + 115,000

Total manufacturing costs= $283,750

5) Prime cost= direct material + direct labor

Prime cost= 43,750 + 125,000

Prime cost= $168,750

6) Conversion cost= direct labor + MOH

Conversion cost= 125,000 + 115,000

Conversion cost= $240,000

7) <u>Period costs are not directly tied to the production process</u>. Overhead or sales, general, and administrative (SG&A) costs are considered period costs. SG&A includes costs of the corporate office, selling, marketing, and the overall administration of company business.

Period costs= Company advertising + Depreciation on salespersons' vehicles + President's salary

Period costs= 18,000 + 25,000 + 75,000

Period costs= $118,000

8 0
3 years ago
Which investment type typically carries the least risk?
AleksandrR [38]
The investment type that typically carries the least risk is saving account
7 0
3 years ago
Insurance Reading Quiz
Nezavi [6.7K]

The statement " whether employer-sponsored or privately purchased, disability insurance plans will cover 70% of your lost income" is: b) False.

<h3>What is disability insurance plans?</h3>

Disability insurance plans can be defined as an insurance plan that  help to cover the cost of people that are physically disabled.

When a person is disable due to work hazard the employers may tend to provide  short-term or long term disability insurance plans that will help to provide income to disable person.

Therefore the statement " whether employer-sponsored or privately purchased, disability insurance plans will cover 70% of your lost income" is: b) False.

Learn more about Disability insurance plans here: brainly.com/question/16810465

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6 0
2 years ago
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