A major advantage of the built-in or automatic stabilizers is that they require no legislative action by Congress to be made effective.
<h3>What are automatic stablizers?</h3>
Automatic stabilizers are stabilizers that adjust the economy automatically without the intervention of the congress. An example of an automatic stablizer is taxes.
In an expansion, progressive tax increases the tax paid by citizens and in a contraction, tax paid is reduced and this increases disposable income.
Here is the complete question:
A major advantage of the built-in or automatic stabilizers is that they:
(a) simultaneously stabilize the economy and reduce the absolute size of the public debt.
(b) automatically produce surpluses during recessions and deficits during inflation.
(c) require no legislative action by Congress to be made effective.
(d) guarantee that the federal budget will be balanced over the course of the business cycle.
Answer:
The answer is: Income statement
Explanation:
As she wants to get information on sales and costs, the Income statement is the statement that she should looking for. With the Balance sheet statement, it only shows information on the financial position reporting the firm's assets, liabilities and owner's equity at a specific point in time rather than the sales and costs firgures during the reporting period.
Furthermore, she should opt for Income statement rather than the common-size income statement because the common-size income statement hardly illustrates any trend during the recent years/ reporting periods, instead, it is only shown each revenue and cost items as percentage of total sales in a specific period.
In the income statement, there should be enough information for the new CFO to find trends on revenues and costs (if any) because the revenue and cost items is detailed enough and at least it should be given the comparision between sales & costs of the reporting period versus the firgures of the previous reporting period.
Based on the information given, it should be noted that all proceeds are income tax free in the year that they're received.
<h3>
What is tax?</h3>
A tax simply means a compulsory levy that's paid by the people or companies to the government. It's important to achieve economic development.
For federal tax purposes regarding lump-sum life insurance benefits, it should be noted that all proceeds are income tax free in the year that they're received.
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The federal reserve differ from other depository institutions such that the federal reserve is a decentralized system whle the other depository institutions are separate entities. The reserve has a common goal of effective operation of the U.S. economy and, more generally, operating for the public interest.
Budgeted direct materials quantity
4000 pounds
Actual direct materials quantity
4500 pounds
Direct materials quantity variance
4500-4000=500 pounds ( underapplied)
