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3 years ago

When a tax is imposed on a good for which the supply is relatively elastic and the demand is relatively inelastic,

Business

1 answer:

kondaur [170]3 years ago

4 0

Answer:

a. buyers of the good will bear most of the burden of the tax.

Explanation:

When a tax is imposed on a good for which the supply is relatively elastic and the demand is relatively inelastic, buyers or consumers of the good will bear most of the burden of the tax.

However, when tax is imposed on a good whose supply is relatively inelastic and the demand for the goods is relatively elastic, the producers or sellers would be responsible for the tax burden of the goods.

Generally, tax revenues are larger with respect to the inelasticity of demand and supply.

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A corporation issued 2,500 shares of its no par common stock at a cash price of $11 per share. The entry to record this transact

dsp73

Answer:

Date Account Titles and Explanation Debit Credit

Cash $27,500

Common stock $27,500

(Being shares issued at cash price recorded)

Common stock = 2,500 shares * $11

Common stock = $27,500

5 0

3 years ago

Which one of the following is not an assumption for the law of one price? a. There is free competition b. There is no transporta

icang [17]

Answer:

d. The skill level of workers is identical in both countries.

Explanation:

The Law of One Price is an economic theory which explains that the price of identical or similar goods in different markets must be the same after taking the currency exchange into consideration. In law of one price, there is perfect competition and It ensures that buyers have the same purchasing power across global markets.

8 0

3 years ago

Jack, Jill and Maritza are employed as sales persons for Deuce Hardware Supplies. None was hired for a definite period and each

Natali [406]

Answer:

Jack has claim while Jill didn't have.

Explanation:

Jack has claim against Deuce Hardware because his performance is tremendous and make more sales for the company. He done his work very well so he can claim against Deuce Hardware Supplies while on the other hand, Jill has no claim against Deuce Hardware because he commit a crime on the basis of which the company has the authority to terminate him from the job. He works very well in the company but his crime is big enough to terminate him.

5 0

3 years ago

Which of the following statements is CORRECT?

Lera25 [3.4K]

Answer:

c. The "apparent," but not necessarily the "true," financial position of a company whose sales are seasonal can change dramatically during a given year, depending on the time of year when the financial statements are constructed.

Explanation:

Financial statements are used to show the financial activity of a business within a given period.

One of the principles of a accounting is periodicity. This requires businesses to report their financial position at regular intervals consistently, and not in an inconsistent manner. So if a business reports their finances twice a year. At year end and at mid year, it is possible that at mid year due to seasonal sales performance will be high and business is perceived to be highly profitable.

But financial report at end of year in the off-season will show low performance.

So for seasonal businesses there can be apparent view of a business during the year that can change dramatically because of time at which reports are made.

3 0

3 years ago

Fred Stone is an employee of Henrock Company. During the first part of the year, Stone earned $4,340 while working in State Q. F

lyudmila [28]

Answer:

$280

Explanation:

SUTA is a synonym for State Unemployment Tax paid by employers and employees , and used by the government to provide the insurance expenditures for the unemployed citizens

The reciprocal arrangement exempts the tax payer from his former country of work. H e will be taxed in the new country of work at the applicable rate

SUTA ceiling earning = $7000

SUTA rate = 4.0%

SUTA = $280

5 0

3 years ago