1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
lubasha [3.4K]
3 years ago
5

Social Security is considered to be mandatory spending by the government.

Business
2 answers:
Burka [1]3 years ago
4 0

The statement, "Social Security is considered to be mandatory spending by the government" is true.

<u>Explanation:</u>

The United States government spending plan is separated into three classifications: obligatory spending, optional spending, and enthusiasm on obligation. Otherwise called qualification spending, in US financial strategy, obligatory spending is government spending on specific programs that are ordered by law.

Congress built up obligatory projects under approval laws. Congress enacts spending for required projects outside of the yearly allocations charge process. Congress can just lessen the subsidising for programs by changing the approval law itself.

This requires a 60-vote dominant part in the Senate to pass. Optional spending then again won't happen except if Congress acts every year to give the subsidising through an appointments bill.  

Compulsory spending has taken up a bigger portion of the government spending plan after some time. In financial year 1965, compulsory spending represented 5.7 percent of total national output (GDP). In FY 2016, obligatory spending represented around 60 percent of the government spending plan and more than 13 percent of GDP. Required spending got $2.4 trillion of the complete $3.9 trillion of government spending in 2016.

Mnenie [13.5K]3 years ago
3 0

Answer:

True

Explanation:

Medicare and medicaid are included into the national budget and is a mandatory spending of the government. The important distinction to this social security programs is not all of the population is eligible for using this programs.

You might be interested in
Watunga County Bank agrees to lend Vaughn Granite Company $599000 on January 1. Vaughn Granite Company signs a $599000, 8%, 9-mo
tangare [24]

Answer:

DR Cash                             $599,000

CR Notes Payable                                $599,000

Explanation:

As this is the entry for the issuance of the note, interest will not be recorded as it is incurred as during the loan period.

Entry will be;

Date                  Details                                                 Debit                   Credit

Jan 1                  Cash                                                  599,000

                          Notes Payable                                                               599,000

5 0
3 years ago
Tom O'Brien has a 2-stock portfolio with a total value of $100,000. $47,500 is invested in Stock A with a beta of 0.75 and the r
Degger [83]

Answer:

1.10

Explanation:

The computation of portfolio's beta is shown below:-

= Stock A Beta × Invested in Stock A ÷ Total value + Stock B Beta × (Total value - Invested in Stock A) ÷ Invested in Stock A

= 0.75 × $47,500 ÷ $100,000 + 1.42 × ($100,000 - $47,500) ÷ $100,000

= 0.75 × $47,500 ÷ $100,000 + 1.42 × $52,500 ÷ $100,000

= 0.75 × 0.475 + 1.42 × 0.525

= 0.35625 + 0.7455

= 1.10175

or

= 1.10

Therefore for computing the portfolio beta we simply applied the above formula.

4 0
3 years ago
On January 1, Year 2, Grande Company had a $16,000 balance in the Accounts Receivable account and a zero balance in the Allowanc
Sonja [21]

Answer:

Based on this information, the amount of cash flow from operating activities that would appear on the Year 2 statement of cash flows is:

= $97,000.

Explanation:

a) Data and Calculations:

Accounts Receivable balance on January 1, Year 2 = $16,000

Allowance for Doubtful Accounts balance on January 1, Year 2 = $0

Service Revenue on credit during Year 2 = $104,000

Cash collected from Accounts Receivable = $97,000

Accounts Receivable balance on December 31, Year 2 = $23,000

Allowance for Doubtful Accounts balance on December 31, Year 2 = $2,080 ($104,000 * 2%)

Net Accounts Receivable balance on December 31, Year 2 = $20,920 ($23,000 - $2,080)

b) The $97,000 is the actual cash inflow received from customers during Year 2.  It increases the cash inflows and forms part of the operating activities section of the Statement of Cash Flows for Year 2 under the direct method.

8 0
3 years ago
Lydia really enjoys math and thinks that she would enjoy a job that involves analyzing data. Which job would be a good fit for h
Papessa [141]

the best choice would be to become a TAX AUDITOR.

8 0
3 years ago
Read 2 more answers
Calculate the balance in Accumulated Depreciation at the end of the second year for all three methods
eimsori [14]

This is the full question:

At the beginning of 2016, Air Asia purchased a used airplane at a cost of $40,000,000. Air Asia expects the plane to remain useful for eight years (5,000,000 miles) and to have a residual value of $5,000,000. Air Asia expects the plane to be flow 1,200,000 the first year and 1,400,000 the second year.

1) Compute second-year (2017) depreciation expense using the following methods

a. Straight-line

b. Units-of-production

c. Double-declining-balance

2) Calculate the balance in Accumulated Depreciation at the end of the second year for all three methods:

Answer:

Explanation:

1)a) Straight-line

Depreciable base = Cost of the Asset - Residual Value

                              = $40,000,000 - $5,000,000

                              = $35,000,000

Depreciation expense per year = Depreciable base / years of useful life

                                                     = $35,000,000 / 8

                                                     = $4,375,000

The depreciation expense for the second year is = $4,375,000

                                                                                       

b) Units-of-production

Units of Production Rate = Depreciable Base / Units Over Useful Life

                                        = $35,000,000 / 5,000,000 miles

                                        = 7

Depreciation Expense = Units of Production Rate x Actual Units Produced

                                      = 7 x 1,400,000 miles in the second year

                                      = $9,800,000

c. Double-declining-balance

Double-declining balance = 2 x (Asset Cost - Residual Value ) / Useful Life of the Asset

                                           = 2 x ($40,000,000 - $5,000,000) / 8

                                           = $8,750,000

2) a) Straight-line Accumulated depreciation

We simply multiply the previous answer by two = $4,375,000 x 2

                                                                              = $8,750,000

2) b) Units-of-production Accumulated depreciation

First we find the depreciation expense for the first year using the same formula as above

= 7 x 1,200,000

= $8,400,000

Finally we simply add up depreciation expense for the two years

= $8,400,000 + $9,800,000

= $18,200,000

2) c) Double-declining-balance Accumulated depreciation

We simply multiply the first result by two = $8,750,000 x 2

                                                                    = $17,500,000

                                       

                           

5 0
3 years ago
Other questions:
  • Gig Harbor Boating is the wholesale distributor of a small recreational catamaran sailboat. Management has prepared the followin
    7·1 answer
  • 0/1 Question 5 In the country of Mainia, only cranberries and maple syrup are produced. In 2006, 50 units of cranberries are sol
    8·1 answer
  • Mutual agency means:_______.
    11·1 answer
  • Millstone Company produces only one product. Normal capacity is 20,000 units per year, and the unit sales price is $5. Relevant
    15·1 answer
  • Which of the following would most likely be required when Implementing an AML program? (Select all that apply.)
    6·2 answers
  • Suppose that the government implements expansionary fiscal policy that raises aggregate demand, but the policy is unanticipated.
    15·1 answer
  • Even if you are willing to take on more responsibility, you need to make sure that ______. a. you do not take on too much b. you
    7·2 answers
  • Identify a true statement about team norms.
    9·1 answer
  • At Bell’s Furniture, assemblers are paid according to the following differential piece rate scale: 1−20 dressers in a week, $7 e
    11·1 answer
  • The full disclosure principle: Multiple Choice Prescribes that accounting information is based on actual cost. Provides guidance
    8·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!