With the assessed value of $64,120, and tax rate of 3.2%, the annual tax bill the Smith's expect to pay is $2,051.84.
<h3><u>
What is tax?</u></h3>
- Taxes are compulsory payments made by a government organization, whether local, regional, or federal, to people or businesses.
- Tax revenues are used to fund a variety of government initiatives, such as Social Security and Medicare as well as public infrastructure and services like roads and schools.
- Taxes are borne by whoever bears the cost of the tax in economics, whether this is the entity being taxed, such as a business, or the final users of the items produced by the business.
Taxes should be taken into consideration from an accounting standpoint, including payroll taxes, federal and state income taxes, and sales taxes.
Simply multiplying the value and rate, we get the annual tax as $2,051.84.
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Answer:
Hybrid System
Explanation:
With the increase in competition in the business environment, companies are now adopting a hybrid strategy. A hybrid strategy is one that aims at standardizing processes, and at the same time attempting to meet individual customer needs. The businesses adopt a cost and differentiation model so as to provide optimum satisfaction to the customers. Adopting just one strategy would slow the growth of the company making it difficult for them to compete.
The hybrid system adopted could be sequential or simultaneous. The sequential strategy is one in which the company first adopts one strategy (example, cost-effectiveness), before moving unto the next strategy (example, differentiation). The simultaneous strategy, however, is one in which the two strategies are employed at the same time.
The answer is yes.
Its possible for a firm to become too big to be competitive and earn profit. They can be so large and successful that they no longer compete with small businesses anymore and might inhibit the ability to continue earn their profit.
Answer:
Click the crown at the bottom right corner of an answer to your question.
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