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Maslowich
3 years ago
13

During the year, Eleanor earns $120,000 in wages as an employee of an accounting firm. She also earns $30,000 in gross income fr

om an outside consulting service she operates. Deductible expenses paid in connection with the consulting service amount to $6,000. Eleanor also has a recognized long-term capital gain of $1,000 from the sale of a stock investment. She must pay a self-employment tax on:
a. $145,000
b. $144,000.
c. $31,000.
d. $30,000.
e. $24,000.
Business
1 answer:
madam [21]3 years ago
5 0

Answer:

Self employment tax will be $24000

So option (e) will be correct option

Explanation:

We have given that earning from outside consulting service = $30000

Deductible amount paid in connection with consulting service = $6000

We have to find the self employment tax

Self employment tax is the difference of earning from outside source and deductible amount

So self employment tax = $30000 - $6000 = $24000

So option (e) will be correct option

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The market for. pizza is characterized by a downward-sloping demand curve and an upward-sloping supply curve. a. Draw the compet
Klio2033 [76]

The market for the pizza has a downward sloping demand curve which means that with the increase in the price of the pizza, the demand of the pizza will decrease but it's supply will increase.

<u>Explanation:</u>

Downward slanting demand curve implies a judicious purchaser will request to a greater degree a product when its price falls. A portion of the explanations behind. the marvel would be: Income Effect : When cost of an item falls, shopper's genuine salary rises that is he would now be able to buy a greater amount of the ware with a similar pay.

A decent with a cost far beneath what the market is eager to pay will show up toward the lower right – extremely low cost, exceptionally popularity. The costs in the middle of would then "fill in" the bend, inclining descending from the upper left to bring down right.

7 0
3 years ago
Last year, Joan bought 50 pounds of hamburger when her household’s income was $40,000. This year, her household income was only
Norma-Jean [14]

Answer:

a. positive, so Joan considers hamburger to be an inferior good.

Explanation:

Income elasticity is a microeconomic concept that aims to measure the sensitivity of demand in the face of income changes. To calculate the Income elasticity , a formula is used that divides the observed percentage change in quantity (Q) by the percentage change in price income (P): Elasticity = ▲ Q / ▲ P

The percentage change in quantity (▲ Q) and the percentage change in price (▲ P) are calculated by the difference in quantity / price in the two periods divided by the quantity / price of the first period.

▲ Q = (60 -50/60) = 0,16

▲ Q = (40.000 - 30.000/40.000) = 0,25

Elasticity = ▲ Q / ▲ P  = 0,16/0,25 = 0,64

Therefore, the elasticity is positive.

This good is considered inferior, because according to microeconomic theory, inferior goods are those whose demand increases when consumer income decreases. This is the opposite of the normal good, which has its demand increased when income increases.

8 0
3 years ago
In today's manufacturing environment, there is a growing philosophy that supports the deployment of smaller, less directly manag
Nastasia [14]

The team that includes about 5 to 15 members that work together to produce an entire product is called a Functional team

<h3>Who is a Functional team?</h3>

A Functional Team refers to a group of people with a common functional expertise who are working toward shared objectives (which is to produce an entire product.)

In conclusion, the team that includes about 5 to 15 members that work together to produce an entire product is called a Functional team

Read more about Functional team

<em>brainly.com/question/1490525</em>

7 0
2 years ago
Silver Mining is opening a new mineral extraction facility in the local town and will employ several thousand people. They have
TEA [102]

Answer:

Corporate Social Responsibility or CSR.

Explanation:

To put it simply, Corporate Social Responsibility means that a company is concerned and responsible about how their actions affect People, Planet and their Profits (3 P's)

Following are the generally accepted principles of CSR.

  1. Compliance with international commitments
  2. Compliance with international and national laws and regulations
  3. Maintenance of good corporate governance
  4. Communication and dialog with all stakeholders
  5. Commitment to Transparency
  6. Conservation and the promotion of the Environment
  7. Fiscal responsibility
  8. Protecting Human Rights
  9. Promotion of Social responsibility

5 0
3 years ago
What is the reason AD is downward sloping ? what causes AD to shift? Define OKun's law
salantis [7]

Answer:

Increased spending power.

Explanation:

At a lower price level, consumers are likely to have higher disposable income and therefore spend more.

4 0
3 years ago
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