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Virty [35]
3 years ago
7

Draw a Laffer curve. Label it. Draw a point on the curve at the tax rate that generates the maximum tax revenue. Label it ​T*. D

raw a point on the curve that shows the approximate location of the United States on the curve. Label it United States. Choose the correct statement. A. A lower tax rate brings greater tax revenue. B. Tax cuts can increase tax revenue. C. A higher tax rate brings in more revenue per dollar​ earned, so a higher tax rate brings in greater tax revenue. D. For tax rates below T​*, a decrease in the tax rate increases tax revenue.
Business
1 answer:
serious [3.7K]3 years ago
4 0

Answer: Theoretically A

Explanation:

One implication of the Laffer curve is that reducing or increasing tax rates beyond a certain point is counter-productive for raising further tax revenue.

. In the United States, conservatives have used the Laffer Curve to argue that lower taxes may increase tax revenue. However, the hypothetical maximum revenue point of the Laffer curve for any given economy cannot be observed directly and can only be estimated – such estimates are often controversial.

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Assume you are the accountant for Austin Industries. Ellis Austin, the owner of the company, is in a hurry to receive the financ
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Answer:

Once you make the proper adjustments, the income statement should no longer show a $95,560 profit, instead it should show $55,080

Explanation:

1. Rent of $42,000 was paid on July 1, 2019, for 12 months.

December 31, 2019, adjusting entry on prepaid rent

Dr Rent expense 21,000

    Cr Prepaid rent 21,000

So rent expense must increase by $21,000

2. Purchases of supplies during the year totaled $18,000. An inventory of supplies taken at year-end showed supplies on hand of $2,720.

December 31, 2019, adjusting entry on supplies inventory

Dr Supplies expense 15,280

    Cr Supplies 15,280

So supplies expense must increase by $15,280

3. The building was purchased three years ago and has an estimated life of 30 years (total accumulated depreciation for 3 years = $21,000)

December 31, 2019, adjusting entry on building depreciation

Dr Depreciation expense 4,200

    Cr Accumulated depreciation - building 4,200

So depreciation expense must increase by $4,200

Adjusted income statement should be:

budgeted profit $95,560

- rent expense ($21,000)

- supplies expense ($15,280)

- depreciation expense ($4,200)

net income after adjustments = $55,080

8 0
3 years ago
A hotel at Lake Lanier Islands surveys guests to determine their satisfaction with the hotel service and amenities. This activit
oksian1 [2.3K]

Answer:

Atlanta Area Lodging | Lanier Islands - Legacy Lodge | Buford GA Lodging

These accommodations offer the finest Buford, GA lodging amenities and stunning views of the lake. ... Legacy Lodge also provides room service from 6:30am – 10:00am and 11:30am – 10:30pm. Check In Time: 4 p.m.

Explanation:

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3 years ago
The information needed to identify lines and other symbols on a construction drawings can be found in the
serious [3.7K]
Where is the picture?
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Investors and creditors are particularly interested in this financial statement because it tells them what is happening to the c
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Answer: D. balance sheet.
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3 years ago
The symbol in flow-charting that is used to mark the point in the process where the analysis skips to another common point of th
Nostrana [21]

<u>Full question:</u>

The symbol in flowcharting that is used to mark the point in the process where the analysis skips to another common point of the process is called:

a. Terminator icon

b. Line connector icon

c. Connector icon

d. Process icon

<u>Answer:</u>

The symbol in flow-charting that is used to mark the point in the process where the analysis skips to another common point of the process is called connector icon

<u>Explanation:</u>

Connector Symbol Symbolizes that the flow proceeds where an equal symbol has been assigned. Connector symbols perform it more accessible to combine flowcharts that traverse many pages. A loop may, consists of a connector where controller first begins, processing steps, a qualified with 1 arrow exiting in the loop, and one running back to the connector.

Off-page connectors are often employed to imply a connection to a  process carried on another sheet. Connectors are regularly labeled with capital letters to dispense coordinating jump points.

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3 years ago
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