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Leto [7]
3 years ago
9

Sales taxes tend to be __________ because low income individuals tend to spend more of their income.

Business
1 answer:
ki77a [65]3 years ago
7 0

Answer:

Regressive.

Explanation:

Sales tax is regressive as it mostly collected from poor or low income consumer, as they spend most of thier income and hardly save money or efford for luxury goods. Sales tax is very important source of revenue for the government, however, it impact heavily on low income people. Low income consumer spend most of the income than consumer with income, which create gap or imbalance between poor and rich.

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A. Calculate the total estimated bad debts on the below information.
Rudik [331]

Answer:

The answer is below;

Explanation:

b. Allowance for Doubtful Accounts     Dr.$4,000

   Bad Debts                                           Cr.$4,000

c. Bad Debt Expense   Dr.$5,000

   Account Receivable Cr.$5,000

d. 1)Account  Receivable Dr.$5,000

   Bad Debt Expense   Cr.$5,000

2)Cash      Dr.$5,000

Account Receivable Cr.$,5000

5 0
3 years ago
Marking merchandise with an exceptionally high price and then claiming that the lower selling price actually used represents a l
Aneli [31]

Answer:

The correct answer is Deceptive pricing.

Explanation:

The deceptive price occurs when companies intentionally cheat customers with price promotions, which in the end are not true. These practices, under the protection of marketing, seek to generate a desire in the buyer to take the items in "discount", either due to its upcoming expiration or simply by the inventory turnover.

6 0
3 years ago
A limit buy order is an order to buy if the stock price goes ___ a specified level; a stop buy is an order to buy if the stock p
Lelechka [254]

Answer:

YES

Explanation:

8 0
3 years ago
government regulation is the most important factor. B) commodity money, because it is valued more highly, tends to drive out pap
Alex73 [517]

Answer:

The question is not complete.

Here is the complete question:

In explaining the evolution of money, the text claims that

A) government regulation is the most important factor.

B) commodity money, because it is valued more highly, tends to drive out paper money.

C) new forms of money evolve to lower transaction costs.

D) all of the above are true.

Here is the answer:

C.new forms of money evolve to lower transaction costs.

Explanation:

Before the advert of money, transactions between individuals were based on exchange goods for goods, a system called trade by barter. The system of trade by barter permits individual who has a particular good but desire another to exchange the goods he has with another person who has the goods he desires.

However, this system has a major flaw: transaction costs were higher.

The system of trade by barter only works if the two people involved has complimentary possession of goods that the other wants and be able to locate each other. With this high transaction costs, exchange of goods was difficult to carry out.

On this background, money evolve to lower this transaction costs and make exchange of goods possible without the need to have what another person wants and the trouble of finding where they are.

4 0
3 years ago
Read 2 more answers
On January 1, Greene Inc. issued $5,000,000, 9% bonds for $4,685,000. The market rate of interest for these bonds is 10%. Intere
skad [1K]

Answer:

b.$296,500.

Explanation:

Calculation to determine what Greene should report as unamortized bond discount

First step is to calculate the discount amount

Discount Amount= ($5,000,000 × .09) - ($4,685,000 × .10)

Discount Amount= $18,500

Now let determine the unamortized bond discount

Unamortized bond discount=$315,000 - $18,500 Unamortized bond discount= $296,500

Therefore Greene should report unamortized bond discount of $296,500

5 0
3 years ago
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