Answer:
<h2>In the case of the salt,the salt buyers would bear most of the tax burden and for caviar,the sellers would bear most of the tax burden.Hence,the correct answer is option b. or buyers of salt and the sellers of caviar.</h2><h2 />
Explanation:
In the case of salt,the supply is more elastic than the demand which implies that the salt sellers are relatively more responsive to salt price change in the market.Therefore,if any tax is imposed on them,it would basically translate into higher production cost for the sellers and due to price elasticity of supply,the sellers would pass the tax to the salt consumers who are comparatively less price sensitive.Now,since the consumer demand for salt is inelastic and the consumers are relatively price insensitive,the consumers won't perhaps mind paying a higher market price for salt including the extra tax.Hence,in this instance,the tax burden would fall on the salt buyers or consumers.
On the other hand,based on the same line of argument,the tax burden would fall on the sellers of caviars as the price elasticity of caviar supply is less than that of the caviar demand.In this case,the caviar sellers are less sensitive about changes in market price of caviars and thus,won't mind paying a relatively higher production cost/expense which is inclusive of the tax burden.Due to higher price elasticity of demand or price responsiveness,the cavier consumers would be reluctant to bear the tax burden and pass it onto the sellers.
Answer:
trial balance
Explanation:
Based on the information provided within the question it can be said that in this scenario Audrey will prepare a trial balance. This refers to an extensive list detailing all the general ledger accounts that can be found within the ledger of a business, each of which will reveal the name and balance of that account. This is what Audrey is preparing and is one of the main tasks completed by accounting departments.
Answer:
a file a claim
explanation:
because of the car accident and the injured people they have to file a claim to pay for the car repair and injuries
Answer:
b. $39,000.
Explanation:
Inventory & Fixed assets will be recognized at historic rate.
Accounts receivable will be recognized at closing rate.
Accounts receivable = FC 30,000 * 0.7
Accounts receivable = $21,000
Inventory = FC 20,000 * 0.6
Inventory = $12,000
Fixed assets = FC 10,000 * 0.6
Fixed assets = $6,000
Total = Accounts receivable + Inventory + Fixed assets
Total = $21,000 + $12,000 + $6,000
Total = $39,000
