Answer:
The correct answer is option A.
Explanation:
In the time of recession expansionary policy is required to boost the economy. An expansionary fiscal policy such as a reduction in tax will be helpful. A tax cut will cause an increase in disposable income. This will cause aggregate demand to rise. Consequently, output and employment will increase.
Similarly, in times of inflation, a contractionary policy will be required to eliminate inflationary pressures. A decrease in government spending would lead to a decrease in aggregate demand. This will cause the price level to get reduced.
Thus an economist would recommend tax cuts in case of recession and reduction in government spending in case of inflation.
Answer:
No, She is not right in doing so.
Explanation:
As provided, she tries to close the books by adding all the false amounts which shall alter the balances temporarily and then after returning from vacation she will correct them, but up till vacation the accounts will not represent the true and fair view.
As per US GAAP the books shall represent true and fair view of all the transactions of the company in its accounting records, not only at the year end but even during the year.
Therefore, this will be false and unethical and will be against the compliance of US GAAP if such practice of wrong recording is done.
Answer:
a
Explanation:
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Answer:
c. $1,400
Explanation:
The computation of the amount which is reported in the gross income is shown below:
= Interest on U.S. government bonds + Interest on a Federal income tax refund + Gain on the sale of Madison County school bonds
= $700 + $200 + $500
= $1,400
The Interest on Madison County school bonds $600 is exempt. So, it is not taxable and thus not included in the gross income.
Since it’s a credit card you must subtract 330.19-50.00 = 280.19 then with the fine you add 280.19+4.20= 284.39. So the new balance is $284.39
