It is false because the individual income taxes contributed about $1.718 trillion in Fiscal Year 2019 while Social Security and Medicare taxes only contributed $1.242 trillion.
<h3>What is an Income tax?</h3>
These are tax imposed on earned income by people in a country while the Social Security and Medicare taxes are imposed on people income while working as well.
However, the individual income taxes contributed about $1.718 trillion in Fiscal Year 2019 while Social Security and Medicare taxes only contributed $1.242 trillion.
Therefore, the Option C is correct.
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Answer:
Constant, Decreases, Increases
Explanation:
Answer: Option A
Explanation: In simple words, Variable cost is that cost of the business that changes with level of production. Hourly wage rate of workers, electricity bill of factory are some of many examples of variable cost.
The electricity consumption is fixed per unit, but if the level of production rises the electricity bill also rises as more units will be consumed.
Hence, from the above we can conclude that the right option is A.
Answer:
= $490
Explanation:
<em>Under the </em><em>First-in-First-Out </em>( FIFO ) <em>method of inventory valuation, inventories are valued using the price of the earliest batch in stock until the batch is exhausted when the price of the next oldest batch is used and so on.</em>
Date sale units Workings Value
10 10 × $19 190
20 (10 × $19)+( 10 × $20) 390
The cost o he merchandise = $190 + $390
= $490
