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lozanna [386]
3 years ago
15

Permanent tax cuts shift the AD curveSelect one:a. farther to the left than do temporary tax cuts.b. not as far to the right as

do temporary tax cuts.c. farther to the right than do temporary tax cuts.d. not as far to the left as do temporary tax cuts.Jump to...
Business
1 answer:
Phoenix [80]3 years ago
6 0

Answer:

farther to the right than temporary tax cuts

Explanation:

The permanent tax cuts have more impact on consumption spending than temporary one. A permanent tax cut raises the expected lifetime wealth and increases autonomous consumption, thus leading to an upward shift of the consumption function. Consequently the permanent tax cuts shift the AD curve farther to the right compared to the temporary tax cuts.

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Explanation: Bad debt expense is an estimate of accounts receivable that is deemed as uncollectible while allowance for doubtful accounts is a balance sheet allowance account that warehouses the total balance of accounts receivable that is deemed irrecoverable.

In this scenario, Simple Co. estimated, using the aging method, that the allowance for doubtful accounts is $3,800. However, it had a credit balance of $330 in the same account. The reinstate the allowance account to $3,800, $3,470 has to be adjusted for by debiting bad debt expense and crediting allowance for doubtful account.

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