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DIA [1.3K]
4 years ago
15

Nicoula is a server at a La Jolla restaurant. Nicoula received $1,200 in unreported tips during 2016 and owes Social

Business
1 answer:
lubasha [3.4K]4 years ago
5 0

Answer:

Yes. Nicoula is required to pay tax including the tips

Explanation:

Since Nicoula received $1,200 in unreported tips during 2016 and owes Social  Security and Medicare taxes on these tips. Her total income for the year, including the tips, is $4,300.

Nicoula is required  to pay an income tax return for 2016 because Tips are considered to be part of employee wages and or salaries, hence employers are required by law to withhold and pay to the IRS payroll taxes on the tips employees report to them each month.

It is mandatory to report on the tax return, the amount of any Social Security and Medicare taxes Nicoula has failed to pay on her 'tip income'.

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For each of the following, state whether the events created are mutually exclusive and whether they are collectively exhaustive.
8_murik_8 [283]

Answer:

Explanation:

- mutually exclusive (ME): If one event occur the other doesn't

- collectively exhaustive (CE): one of the events must occur

a. Undergraduate business students were asked whether they were sophomores or juniors: ME

b. Each respondent was classified by the type of car he or she drives: sedan, SUV, American, European, Asian, or none. ME - CE

c. people were asked, "Do you currently live in (i) an apartment or (ii) a house?": ME

d. A product was classified as defective or not defective: ME - CE

7 0
4 years ago
In the country of Lumberne, citizens campaigned against the sanction of a new factory that was about to be built in the vicinity
bekas [8.4K]

Answer: (B) Civil society

Explanation:

 The civil society is one of the type of organization in which the various types of collective actions are taking place in order to share the common values and interests.

It basically enhance the services and the used in the  decision making process based on the public and the economical rights.

According to the given question, the civil society is one of the part of citizen campaigned that is against sanction of the  new factory that start building in the residence area.  

 Therefore, Option (B) is correct answer.

6 0
3 years ago
A process has low fixed costs and high variable costs. It is currently capacity-constrained. Will the impact of an efficiency im
Lubov Fominskaja [6]

Answer:

Small

Explanation:

Fixed costs are the costs that do not change when output level changes, while variable costs are costs that change as output quantity changes.

When a production process is capacity constrained, it implies that there is a factor that does not allow it to produce more output. Examples of such factors are minor bottlenecks, constrained designs and resources, and others.

A process is said to be efficient when it can avoid waste of resources in producing desired output.

Efficiency improvement therefore occurs when more output can be produced with less resources.

In the question, given that the process is currently capacity-constrained, efficiency improvement will result in producing more output at higher costs because of high variable costs despite that the process has low fixed costs.

As a result, the impact of an efficiency improvement will be small because producing more output will result in incurring higher cost due to high variable costs that change as quantity of output changes. That is, the impact of efficiency improvement will be small because high variable costs with low fixed cost will result in higher production cost.

3 0
3 years ago
Use the following information to answer this question. Windswept, Inc. 2017 Income Statement ($ in millions) Net sales $ 9,500 C
romanna [79]

Answer:

The return on equity for 2017 is 21.46 %

Explanation:

Return on equity measures the return earned on the owners investment in the company.

<em>Return on equity = Net Income for the year / Total Shareholders Funds × 100</em>

                            = $822 / ( $2,980 + $850) × 100

                            = 21.4621 or 21.46 %

Note : That Retained earning is part of Owners Investment.

Conclusion :

The return on equity for 2017 is 21.46 %

6 0
3 years ago
A sudden stop will be easier to navigate if the country borrows internationally in foreign currencies and lend locally in its do
natulia [17]

Answer: False

Explanation:

A sudden stop refers to the sudden decline in net capital inflows in the economy from outside. This is a significant method by which the economy can have access to foreign exchange.

If the country therefore borrows internationally in foreign currencies whilst lending in domestic currency, the sudden stop will be difficult to navigate because it will impair the country's ability to pay off the international creditors it has because it will not have enough of the required foreign currency to pay them.

8 0
3 years ago
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