Littleland need to borrow million in 2010 to finance its government spending.
<u>Explanation:</u>
Budget deficit = Total spending + Total earning
Total spending = Education + Welfare and Social Security + Healthcare + Defense + Payments on debt + Other=
Total revenue = Income tax + Sales tax + Corporate tax + Social insurance=
Budget Deficit
Therefore, making it 300 million dollar that is budget deficit of Littleland in 2010 was million. This means spending of Littleland in 2010 exceeds its revenue for 2010 by million.
Budget deficit means a government has deposited more money and bonds into private holdings than it has removed in taxes, over the course of some time range.
Answer:
See below
Explanation:
a. Labor rate variance for the month
= (SR - AR) × AH
= ($16.70 - ($87,360/5,200 hours)) × 5,200
= ($16.70 - $16.8) × 5,200
= $520 Unfavourable
b. Labor efficiency variance
= (SH - AH) × AR
(4.4 × 1,100) - 5,200) × $16.70
= (4,840 - 5,200) × $16.70
= $6,012 Unfavourable
Answer: All competitive advantages do not accrue to large-sized firms. A major advantage of smaller firms are that they "(B) can launch competitive actions more quickly."
Explanation: Smaller companies can launch competitive actions faster because being smaller, communication is much faster, and decision-making involves fewer interested people who may differ in opinions to direct competitive strategies.
Answer:
C) Any of the above (or below)
- B) The potential that another government could unilaterally dissolve the entity and assume their assets and liabilities
- D) The power to enact and levy a tax.
- E) The power to directly issue debt, for which its interest is exempt from federal taxation
Explanation:
Government Accounting Standards Board (GASB) is a private non-governmental organization that develops accounting standards that state and local governments must follow. The GASB works along with the Federal Accounting Standards Advisory Board (FASB), which is the organization that develops accounting standards for the federal government.
Both the GASB and the FASB help to ensure that financial information regarding the use of public funds is standard across different government entities.