Answer:
a.
Primary sources represent the law itself as interpreted by the statutory, administrative and judicial entities of the government while secondary sources can be generally defined as interpretations of the law done by non-governmental entities.
b.
The type of authority which professional tax research conclusions should be based on are the primary sources.
Explanation:
a.
Primary sources of tax information are documents that are provided directly by an authority usually the government. Primary sources usually carry heavy weight especially when there is a conflict in the understanding of a federal tax law. These sources are often used by law practitioners as a basis in understanding cases of a similar nature. Some examples of primary sources of tax information include; internal revenue code, final and temporary regulations, non-codified federal tax statutes, and judicial decisions on tax matters. In general primary sources represent the law itself as interpreted by the statutory, administrative and judicial entities of the government. They can be used in a case where a tax payer in arguing his or her case about their tax position in a court of law.
Secondary sources of tax information are documents that are provided by information vendors who provide research services, legal analysis and tax professionals. These sources usually rely on the professionalism and experience of individuals who have gained a reputation on tax law for advice and direction. Some examples of secondary sources include; legal periodicals like academic journals, legal analysts, scholars and tax law reporters. Secondary sources can be generally defined as interpretations of the law done by non-governmental entities.
b.
Professional research is usually done to enable one advance in his/her career in order to gain acceptance as an expert in that particular field. For one to join the ranks of a professional, they first need to prove their mastery of the knowledge in that particular profession. In our case, one needs to be aware of the law as provided by an authority. This means that one needs to argue his/her case in reference to the primary sources since these sources carry more weight in terms of understanding and experience as opposed to secondary sources that represent personal views that might be susceptible to bias. On this note, the type of authority which professional tax research conclusions should be based on are the primary sources.
Answer: Option C) When supply equals demand.
The most common supply curve decreases with price. The most common demand curve increases with price. The point at which supply and demand curves intercept each other is the equilibrium point. At that point (equilibrium), there are consumers who are paying less than what they are willing to pay (generating a consumer surplus) and there are producers who are selling at a price that is higher than what they are willing to receive (generating a producer surplus), then both consumer and producers benefit.
Answer:
3,600 workers and 135 machines is more technically efficient.
Explanation:
a. For 3,600 workers and 135 machines
Worker technical efficiency = 3,600/3,000 = $120%
Machine technical efficiency = 135 / 3,000 = 4.50%
Average technical efficiency = (120% + 4.5%) / 2 = 62.25%
b. For 270 machines and 3,300 workers.
Worker technical efficiency = 270/3,000 = $9%
Machine technical efficiency = 3,300 / 3,000 = 110%
Average technical efficiency = (9% + 110%) / 2 = 59.50%
Conclusion
Since the average technical efficiency of 62.25% is higher than 59.50%, 3,600 workers and 135 machines is more technically efficient.
Answer:
c
Explanation:
A public good is a good that is non excludable and non rivalrous.
For example, if there is a statue in a park, Everyone has assess to the statue and because one person is enjoying the view of the statue does not means another person cannot enjoy the view of the statue
Answer:
The legislature's action is an example of: Revoking common law by new statutory law
Explanation:
First of all, we need to understand what is the difference between a common-law and statutory law.
<u>Common-law: </u>This is based on decisions made previously at court, they have judicial precedent, so when there are similar cases the judges base their decision on these precedents.
<u>Statutory law:</u> This is a formal type of law, given it passed the house of parliament or Congress. The statutory laws are written and they regulate the behavior of citizens. There are many examples of statutory laws: tax laws, traffic regulations, etc.
According to the definitions above, the statutory law is stronger than a common law because the statutory law can modify the common law, just as in the provided example:<em> The legislature, following the court ruling, passes a statute saying hair color is not covered by anti-discrimination laws.</em>
Despite the common law is based on prior decisions taken at court (precedents), these are not approved by the parliament or congress, unlike the statutory law.
