Answer:
The correct answer is letter "B": An audit.
Explanation:
An audit is an objective examination of accounting records that makes sure the records are a fair and accurate representation of the transactions they claim to represent. An audit is often used to mean an examination of a taxpayer's records by the Internal Revenue Service (IRS).
Answer:
Government's tax revenues would decrease by $1,250
Explanation:
Please refer the complete question below
Song earns $100,000 taxable income as an interior designer and is taxed at an average rate of 20 percent (i.e., $20,000 of tax). Answer the questions below assuming that Congress increases the income tax rate such that Song's average tax rate increases from 20 percent to 25 percent.
What will happen to the government’s tax revenues if Song chooses to spend more time pursuing her other passions besides work in response to the tax rate change and therefore earns only $75,000 in taxable income
If Song opts for pursuing his other passions he will end up earning $75,000 and therefore since the tax rate is now 25% he will have to pay $18,750 ($75,000 x 25%) as against the $20,000 ($100,000 x 20%) taxed previously and hence government's tax revenues would decrease by $1,250 ($20,000 - $18,750).
Answer:
labor
Explanation:
There are four factors of production; land, labor, capital and entrepreneurship:
- William is the entrepreneur,
- Capital accounts for the helicopters, facilities and the advertisement.
- Land in this case is the plot of land where the business will be located.
- But who will fly the helicopters and perform maintenance operations? Who will sell the tours and perform administrative tasks? William will not fly the 5 helicopters himself, perform maintenance operations and sell the tours.
Yes it does. Unemployment is when a person isn't currently hired at a work pleace. If people are unemployed they are making no income so less people are in need of products so it lowers the demand.
