Answer:
For example, Bank of Baroda, State Bank of India (SBI), Dena Bank, Corporation Bank and Punjab National Bank.
Answer:
No option is correct.
- a. An increase in the tax rate always increases tax revenue. ⇒ FALSE, if tax rates increase beyond the optimal level, instead of increasing total revenue they will decrease it.
- b. The tax rate is 1 percent, and tax revenue is very high. ⇒ FALSE, very low tax rates will result in very low government revenue.
- c. The tax rate is 99 percent, and tax revenue is very high. ⇒ FALSE, very high tax rates will result in very low government revenue.
- d. A decrease in the tax rate always increases tax revenue. ⇒ FALSE, if tax rates decrease beyond the optimal level, instead of increasing total revenue they will decrease it.
Explanation:
According to Arthur Laffer, a direct and sometimes inverse relationship exists between tax rates and government revenue. Sometimes a lower tax rate can result in higher government revenue. But that is not always the case. Sometimes an increase in the tax rate can increase government revenue. The optimal tax rate (T*) is equal to the tax rate that will allow the government to collect the highest amount of revenue. Any lower or higher tax rate will decrease government revenue.
The correct answer is d, public goods.
The definition of a public good is a good or service that is nonrivalrous and nonexclusive. This means that individuals cannot be excluded from the use of the good or it can be enjoyed without paying for it, and use by one individual does not prevent others from using it.
Answer: The correct answer is D.
Explanation: We must record the passage of direct materials to the goods in process account and record the passage of indirect materials as factory overheads, therefore we debit "Goods in process" for 60000, and "factory overhead" for 17000 And we cancel the inventory account of these materials by crediting "raw materials".
<u>The registration would be:</u>
Goods in process 60000
Factory overhead 17000
Raw Materials 77000