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Flura [38]
3 years ago
13

When the economy entered a serious recession in 2008, the response of the U.S. government was to institute a $700 billion bailou

t plan, pursue other heavy deficit spending, and take on unusually large liabilities through bond and money market fund guarantees. This is an example of:
functional finance and expansionary fiscal policy.
procyclical fiscal policy.
fiscal policy that employs automatic stabilizers as the primary means of economic stabilization.
sound finance as fiscal policy
Business
1 answer:
lakkis [162]3 years ago
6 0

Answer:

functional finance and expansionary fiscal policy

Explanation:

Functional finance is an economic theory proposed by Abba P. Lerner, based on the principles of efficient demand and chartalism. It states that government should finance itself to accomplish explicit goals such as subduing the business cycle, reaching high employment, guaranteeing development and low inflation.

Expansionary fiscal policy is a type of fiscal policy involving a reduction in taxes, an increase in government spending, or both, to counter recessionary pressure. A reduction in taxes means households have more disposal funds to spend

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Financial Statements from the End-of-Period Spreadsheet
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Answer: See explanation

Explanation:

Triton Consulting Income Statement For the Year Ended April 30, 20Y3:

Fees earned 279000

Less: Expenses:

Salary expenses = 242000

Supplies expenses 1650

Depreciation expense. 900

Miscellaneous expenses 2000

Total expense = 246550

Net income 32450

Triton Consulting Balance Sheet April 30, 20Y3

Assets

Current assets

Cash 21500

Account receivable 51150

Supplies 750

Total current asset = 73400

Property, plant and equipments

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Accumulated Depreciation 5400

Total property,plant and equipment = 26600

Total asset = 100,000

Liabilities

Current liabilities:

Account payable: 3350

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Total liabilities = 5350

Stockholders equity

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Total stockholders equity = 94650

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3 years ago
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Introduction
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Suppose investor 1 and investor 2 each has $100 wealth to invest in the two risky assets and the risk-free asset, and suppose th
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Answer:

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5 0
2 years ago
Cabot Company reported a pretax operating loss of $50,000 for financial reporting and tax purposes in 2018. The enacted tax rate
Nady [450]

Answer and Explanation:

1.

Net Operating loss carryback  Amount  Rate of Tax  Tax Recorded as

Carried back - 2014               $0.0          30%         $0.0  

Carried back - 2015               $0.0          30%         $0.0  

Carried back - 2016           $42,000        35% $14,700.0  

Carried back - 2017           $8,000.0       40% $3,200.0  

Total Carryback                 $50,000.0                    $17,900.0

Journal Entries - Cabot Company

Date                Particulars                                  Debit Credit

31-Dec-18      Receivables - Income Tax Refund  $17,900

          To Income tax benefit - Net Operating Loss           $17,900  

2. Cabot's net loss for 2018 = -$50,000 + $17,900

                                          = ($32,100)

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