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vodomira [7]
3 years ago
8

Net worth is the amount you owe creditors. a. True b. False

Business
1 answer:
Marat540 [252]3 years ago
8 0

Answer:

False

Explanation:

Net worth is the amount money from the assets you own minus your debts.

You might be interested in
You are going to write an essay on the policies to reduce income inequality and poverty. You will explain the content of these p
spin [16.1K]

Answer:

The Essay is written as below; Kindly look into.

Explanation:

What is the main difference Between Income Inequality and poverty?

First of all we need to see the main difference between Income Inequality and Poverty. Poverty is a term which is used to measure the basic standard of living of individuals in the country while Income inequality is the unfairness in the distribution of income among various individuals living in an economy. It is ratio of percentage of income to the percentage of population.

Policies to reduce income in quality and poverty

We now explain certain policies to reduce income in equality and poverty. Following are some factors of polices taken to reduce income inequality and poverty.

1. Increase the minimum wage.

Normally the minimum wages is defined as “the minimum amount of remuneration that an employer is required to pay wage earners for the work performed during a given period, which cannot be reduced by collective agreement or an individual contract. The minimum wage in any economy is designed to create a minimum standard of living to protect the health and well-being of employees. The government could increase the national minimum wage. This is an effective way of increasing the incomes of the low paid and therefore reducing wage inequality.

2. Expand the Earned Income Tax.

The policies which  encourages the higher savings rates and lower the cost of building assets for working and middle class households can provide better economic security for struggling families. Access to fair, low-cost financial services and home ownership are also important pathways to wealth. Strong evidence shows that the earned income tax  has been an effective tool to increase work and reduce poverty.

4. Invest in education.

There are differences in early education and school quality which are the most important components contributing to persistent inequality. Timely Investments in education, beginning in early childhood with programs can increase economic mobility, contribute to increased productivity and decrease inequality. AS poverty affects education and our children living in poverty tend to be exposed to more stress, more intense & longer lasting stress that negatively impact attention, focus, cognition, IQ and social skills.

In the underdeveloped countries and developing countries, people instinctively know that education is a good thing for their children, and in developed countries, we have a lot to learn and to relearn about the importance of education. People who live in poverty are aware of the fact that sending their children to school will give them opportunities that they didn't have.  

5. Progressive Taxes.

A progressive tax imposes a higher rate on the wealthy than on the poor. It's based on the taxpayer's ability to pay. Poor families spend a larger share of their incomes on cost of living expenses. They need all the money they earn to purchase and pay for basics like shelter, food, and transportation. A tax decreases their ability to afford a decent standard of living by subtracting from their income.The wealthy can afford the basics. A tax decreases their ability to invest in stocks, add to retirement savings, or purchase luxury items.

Conclusion and Comparative Assessment

We need to evaluate each of these policies mentioned above, if wisely implemented, has the potential to lift the working families out of poverty. It will support greater economic mobility and reduce the inequality rise and growth. All of these policies could be endorsed at the local, state and federal levels if there is political will.  The question arises

<em>How does income inequality affect poverty? </em>

Both of these factor; Inequality and poverty affect each other directly and indirectly through their relation with economic growth. Poverty can be reduced through increases in income, like changes in the income distribution, or through a combination of both. It is however clear that both concepts are related, but neither replaces the other.” Therefore, it can be conditional that inequality exists because there is private property or clearly established hierarchies. But there are areas where inequality is unavoidable. If policymakers at the state level are deeply concerned about reducing poverty in their countries, they should start by reducing or limiting inequalities in the society.  

4 0
3 years ago
Following are Nintendo’s revenue and expense accounts for a recent March 31 fiscal year-end (yen in millions). (Enter answers in
Gnom [1K]

Answer:

1.

Dr. Net Sales               ¥ 1,888,622

Cr. Income Summary  ¥ 1,888,622

2.

Dr. Income Summary      ¥1,770,833

Cr. Cost of sales              ¥ 1,254,981

Cr. Advertising expense ¥ 118,308

Cr. Other expense           ¥ 397,544

Explanation:

Closing Entries are passed to close the temporary accounts of a business for the year. These accounts are closed and their balances are transferred to income summary account.

First we will close the the revenue / income accounts and then expenses or cost accounts.

4 0
3 years ago
A business buyer purchases toner, paper, and staples from a seller of office supplies. What form does the seller need to use to
solniwko [45]

I'm pretty sure it is b because invoice is a record that keeps track of orders and cost

7 0
2 years ago
Indicate whether it would appear on the statement of cash flows as a(n): operating activity, investing activity, or financing ac
Naily [24]

Answer:

a. Cash receipts from customers.

Statement of cash flows: Operating activity

b. Issuance of common stock for cash

Statement of cash flows: Financing activity

c. Payment of cash dividends

Statement of cash flows: Financing activity

d. Cash purchase of equipment

Statement of cash flows: Investing Activities

e. Cash payments to suppliers

Statement of cash flows: Operating activities

f. Sale of old machine for cash

Statement of cash flows: Investing Activities

4 0
2 years ago
Catherine Jones has determined the following information about her own financial situation. Her checking account is worth $750 a
guapka [62]

Answer:

$150,450

Explanation:

With regards to the above, her assets are: checking account, savings account, Home, furniture and appliances, laptop, mutual fund, car and retirement account.

= $750 + $1,900 + $91,000 + $11,000 + $3,300 + $5,500 + $37,000

= $150,450

Therefore, the total value of her asset is $150,450

5 0
2 years ago
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