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3 years ago

A higher marginal income tax rate reduces incentives to work because

1 answer:

7 0

An increase in the marginal income tax rate is likely to decrease the quantity of labor supplied. because the increase in the tax automatically reduces the profit of the firm. the management will always try to compensate their loss by taking necessary reforms or measures. the first and simplest method to reduce the loss is to cut down the expense by reducing the labour involved.

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etermining Gross Profit During the current year, merchandise is sold for $990,000. The cost of the merchandise sold is $693,000.

otez555 [7]

Answer:

Results are below.

Explanation:

A: To calculate the gross profit, we need to use the following formula:

Gross profit= sales - cost of goods sold

Gross profit= 990,000 - 693,000

Gross profit= $297,000

B: Now, the gross profit percentage:

Gross profit percentage= (gross profit / sales)*100

Gross profit percentage= (297,000 / 990,000)*100

Gross profit percentage= 30%

C: Finally, a net income is reported in the income statement at the moment of the sale. It doesn't matter if the sale was paid or not.

6 0

2 years ago

The cash basis method of accounting requires revenue to be recognized when performance obligations are satisfied. (If false, ide

xxTIMURxx [149]

Answer:

True

Explanation:

Unlike Accrual basis accounting the cash basis method of accounting requires revenue to be recognized when performance obligations are settled rather than when they are incurred.

The major difference between cash and accrual accounting is in the timing of when transactions are taken account of. Whereas Accrual accounting recognizes transactions when they occur (i.e. expenses when they are incurred and revenue when they are earned) Cash accounting recognizes revenue and expenses only when cash is paid.

6 0

2 years ago

The process of gathering information about the competitive environment, including competitors' plans, activities, and products,

Sholpan [36]

Answer: (C) Competitive intelligence

Explanation:

The competitive intelligence is one of the process of analyzing the various types of information that helps in learned abut the market, consumers and the competitors.

The main objective of the competitive intelligence is that it helps in support the various types of strategic decisions in an organization.

According to the given question, the competitive intelligence is helps in gathering the data for improving the ability of an organization in this competitive environment.

Therefore, Option (C) is correct answer.

6 0

3 years ago

Abraham is wanting to move out of his parents house, and must create a budget to see if he can afford the change in expenses. He

olchik [2.2K]

What's the question with the statement?

4 0

3 years ago

Gabe industries sells two products, basic models and deluxe models. Basic models sell for $44 per unit with variable costs of $2

Dima020 [189]

Answer:

See below

Explanation:

Basic models Deluxe models

Sales price $44 $54

Variable costs $25 $25

Contribution margin $9 $29

Sales mix 1 3

Total contribution margin $9 $87

Contribution margin per unit = $9 + $87 = $96

Weighted contribution margin= Total contribution margin / Units

= $96 / $4

= $24

Break even point = Total fixed costs / Weighted contribution margin

Break even point = $1,441 / $24

Break even point = 60 units

•Basic units = 60 × 63.33% = 38 units of basic

•Deluxe units = 60 × 43.33% = 26 units of Deluxe units

6 0

3 years ago