Answer:
a.They must be an integral part of the finished product and be a significant portion of the total product cost
Explanation:
The direct material is the material cost which is directly related to the process of the product at the time of manufacturing the product
It can be an integral part of the finished goods as finished goods are come from direct materials and the work in process cycles.
Moreover, it also included in the total product cost along with the direct labor cost and the manufacturing overhead cost
Answer:
1. True. The tax rates are higher, the greater one's income
Explanation:
1. True. Progressive tax is defined as a tax whose rate increases as the payer's disposable income increases. The implication is that ,individuals who earn high incomes have a greater proportion of their incomes taken to pay tax.
A perfect example of progressive tax is income tax whose rate is tied directly to personal income income.
2. False. The rate increases as the disposable income of the tax payer increases under progressive tax
3.False. Entrepreneurial income will be taxed after adjusting for allowobale and non-allowable income and expenses and relevant loss relief.
4. False. The revenue realised from progressive taxes are utilized by the government as stipulated in the budget.
Answer:
Retail banks operate in order to earn profit, while credit unions are nonprofit
Explanation:
What is a major difference between retail banks and credit unions?
Retail banks only serve businesses, while credit unions only serve individuals.
- This answer is false, both retail banks and credit unions serve businesses and individuals.
Retail banks operate in order to earn profit, while credit unions are nonprofit.
- This answer is true, retail banks earn profits while credit unions are non-profits.
Retail banks only have small local branches, while credit unions are nationwide.
- This answer is false. Generally speaking, retail banks have a much larger geographic footprint than credit unions. Many retail banks are found across the entire country (and sometimes world!) but most credit unions are focused on serving their local community.
Retail banks manage a person's money, while credit unions focus on providing loans.
- This answer is false. Both retail banks and credit unions offer money/investment management services in addition loans. The financial products offered by retail banks and credit unions depend on the market served and business conditions.
