Answer:
The correct answer is letter "B": can be viewed as negative tax payments, T.
Explanation:
In the U.S., government transfer payments or simply called transfer payments are local, state and federal payments the government sends to individuals enrolled in social programs such as the Social Security, Medicaid or unemployment welfare.
<em>They are considered negative tax payments since the funds used comes from taxpayers but it is not redistributed to investments of public interest. </em>However, income received by individuals in need from the government is taxed, too.
Answer:
(a)
The equilibrium price is $75 per club
The equilibrium quantity is 75000 clubs
(b)
A charge a price of $50 per club. This would result in a surplus of 25000 clubs
Explanation:
Given
--- The demand function
--- The supply function
Solving (a): The equilibrium price and quantity
To do this, we equate both functions
This gives:
Collect like terms
Make P the subject
---The equilibrium price
Substitute 75 for P in
---- The equilibrium quantity
Solving (c): When the price is changed to $50
This means that: 
The quantity demanded will be:
Subtract the equilibrium quantity from to get the shortage/surplus
<em>Since the change is positive, then there is a surplus.</em>
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Answer:
price and quantity variances.
Explanation:
In Financial accounting, costing is the measurement of the cost of production of goods and services by assessing the fixed costs and variable costs associated with each step of production.
Manufacturing costs can be defined as the overall costs associated with the acquisition of resources such as materials and the cost of converting these raw materials into finished goods. Manufacturing costs include direct labor costs, direct materials cost and manufacturing overhead costs.
Total direct materials variance gives the difference between the budgeted cost and actual cost of a unit of goods produced.
Generally, a total materials variance is analyzed in terms of price and quantity variances used by a manufacturer in the manufacturing of a particular product.
<span>profit-and-loss statement</span>
Answer:
Explanation:
Question 27
If Wheat Company had used the FIFO inventory method, income before income taxes would have been $75,000 higher in the current year. As inventory is an asset to the company. Therefore the $75,000 in inventory would have increased the company's asset and increasing the income before taxes.
Question 28
Other things held constant, which of the following will NOT affect the current ratio, assuming an initial Not yet current ratio greater than 1.0?
C. Accounts receivable are collected in cash.
Current ratio measures a company's ability to pay short-term obligations as at when due. It indicates that a company can manage its debts and other payable when their current assets is well managed.
It is calculated as Current Asset/ Current Liability. A ratio of 1 and above is the best meaning that a company an manage its debts obligations well.
