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Stolb23 [73]
3 years ago
11

In the News article titled "Perpetuating Poverty: Lotteries Prey on the Poor" reports that poor people spend a larger percentage

of their income on government-promoted gambling than do rich people.
On the basis of this information, we can conclude that lotteries function as:

a) An income tax.
b) A progressive tax.
c) A property tax.
d) A regressive tax.
Business
1 answer:
Bond [772]3 years ago
8 0

Answer: (D) A regressive tax

Explanation:

 According to the given question, the lotteries function is refers as a regressive tax on the basis of given data or information as regressive tax is one of the type of tax that basically describe about the given distributing effect in terms of expenses and earning.

This type of tax basically required the larger portion of the income from the earners and the main purpose of a regression tax is that the marginal rate of the tax become increase. The taxation process also affect the necessary requirements and living standards.  

 Therefore, Option (D) is correct answer.  

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Summary of accounting chapter 1
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Answer:

Chapter 1 introduces the study of accounting. Accounting is defined as a set of concepts and techniques that are used to measure and report financial information about an economic entity. Accounting consists of both external reporting issues known as “financial accounting,” and internal reporting issues related to “managerial accounting.”

Explanation:

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3 years ago
During May, 10,000 packages of chicken sausages were produced, for which 52,000 pounds of meat and 15,000 machine hours were use
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Answer:

50,000 pounds of chicken meat

Explanation:

If 10,000 packages of chicken sausages were produced, the estimated amount of chicken meat and machine hours would equal:

  • chicken meat = 10,000 packages times 5 pounds per package = 50,000 pounds of chicken meat
  • machine hours = 10,000 packages times 2 hours per package = 20,000 machine hours

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3 years ago
To determine the best price for a first edition copy of a Stephen King novel with a dust jacket in mint condition, Jason would m
RideAnS [48]

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Explanation:

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By using the shopbots tool we can compare all the products for finding the low price. The shop-bot is also known as the digital type of fabricating tool.

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3 0
3 years ago
Kelly Company experienced the following events during its first accounting period. (1) Issued common stock for $10,000 cash. (2)
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Answer:

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3 years ago
For each separate case, record the necessary adjusting entry. On July 1, Lopez Company paid $2,800 for six months of insurance c
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Answer:

a. Date    Account Title and Explanation      Debit    Credit

                Insurance Expenses                       $2,800

                      Prepaid Insurance                                   $2,800

                (To record 6-month Insurance coverage expired)

b. Date    Account Title and Explanation         Debit      Credit

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                      Supplies                                                       $10,200

                       (8,200 +3,600 - 1,600)

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3 years ago
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