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yawa3891 [41]
3 years ago
7

25-6. Which of the following is a fundamental distinguishing feature of individual income taxes compared with payroll taxes? a.

Individual income taxes are applied to a more narrowly defined set of income sources. b. Individual income taxes are applied in many cases to the entire income of a family. c. Individual income taxes are the primary means of financing social insurance programs. d. Individual income taxes are applied only on income earned up to a maximum value.
Business
1 answer:
AlexFokin [52]3 years ago
6 0

Answer: Individual income taxes are applied to a more narrowly defined set of income sources.

Explanation:

An individual income tax is a tax that is imposed by the governments on the income that is generated by individuals within the state. By law, all taxpayers must file the income tax return yearly to determine their tax obligations.

Payroll tax is the tax paid on the wages and salaries of the employees and they are used to finance social insurance programs, like Social Security and Medicare.

The difference is that the inividual income taxes are more narrowly defined set of income sources. Payroll is one of the sources of income while, the individual income is made up of other sources like rents, and the income from other business.

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When firms exit a market, the _________, causing individual firms’ profits to _________.
Tpy6a [65]

Answer:

<em>When firms exit a market, the short-run market supply curve shifts left, causing individual firms’ profits to increase.</em>

Explanation:

The process of <em>free entry and exit of firms</em> is in a sequence as explained under-

  1. If there is higher demand in the market of the product as compared to its supply, then each firm in the market will receive higher price for its product.
  2. This will increase the prices of the product, enabling higher profits for each firm. This will make the industry attractive, enabling the introduction of newer firms in the market.
  3. When the new firms enter the industry, the prices of the product in the market will drop due to higher competition, now present currently. This will lead to lowering of profits for the firms in the industry.
  4. This will make the industry non-attractive and thereby the less competitive and less effective firms will exit the market in the short run.
  5. This exit of firms from the industry, will lead to higher prices again due to less supply of product in the market as compared to its demand. Hence, the profits of the firms present in the industry will increase.

Thus, it can be concluded that <em>when firms exit a market, the short-run market supply curve shifts left, causing individual firms’ profits to increase.</em>

4 0
3 years ago
Read 2 more answers
Why should you consider collecting a family of measures when undertaking an improvement?
Serggg [28]

Collecting a family of measures when undertaking an improvement as single measure may not be enough to determine the impact of a change on the system.

An example of a undertaking is washing dishes. An example of a commitment is promising to babysit a friend's child. Especially the business of mortician and funeral management. Promise or Promise; Guarantee.

A written undertaking provided as a guarantee to take certain actions required by court proceedings. In criminal proceedings, bail guarantees the defendant's appearance in court. If the defendant does not appear, the bond will be forfeited.

Learn more about undertaking here:brainly.com/question/25443563

#SPJ4

5 0
2 years ago
The Oxford Fixed Income Fund invests heavily in bonds. If the fund manager thinks that interest rates are going to fall, what ch
zepelin [54]

Answer:

A. Increase investment in long-term bonds

Explanation:

According to the Expectations hypothesis which is based on the principle that long-term rate is determined purely by current and future expected short-term rates, such that he expected final value from the accumulation of progression of short-term bonds approximates the final value from investing in long-term bonds.

Hence, given that when the interest rates fall, the prices of the bonds on the market already will rise, then it can be concluded that If the fund manager thinks that interest rates are going to fall, she should Increase investment in long-term bonds

5 0
3 years ago
Three different areas of life of VLOOKUP
Nadya [2.5K]

Answer and Explanation:

The three different areas fo VLOOKup is as follows

1. The Primary key which is used for matching up your data for example, employee id, employee address etc

2. The list of lookup that represents the database i.e employees list who are working in an organization

3. the data which is required to match it or shifting the data

6 0
3 years ago
Machinery purchased for $64,200 by Sheridan Co. in 2016 was originally estimated to have a life of 8 years with a salvage value
ArbitrLikvidat [17]

Answer:

Sheridan Co.

a. It is not necessary to correct the prior year's depreciation.  Depreciation is an accounting estimate and does not require the adjustment of prior year's accounts when there is a correction in its estimates.

b. Entry to record depreciation for 2021:

Debit Depreciation Expense $4,387

Credit Accumulated Depreciation $4,387

To record the depreciation expense for the year.

Explanation:

a) Data and Calculations:

Purchase of machinery in 2016 = $64,200

Original estimated useful life = 8 years

Salvage value = $4,280

Depreciation amount = $59,920 ($64,200 - $4,280)

Depreciation expense per year = $7,490 ($59,920/8)

Accumulated depreciation for 5 years = $37,450

Net book value = $26,750 ($64,200 - $37,450)

Remaining estimated useful life = 5 years

Salvage value = $4,815

New depreciable amount = $21,935 ($26,750 - $4,815)

Depreciation expense per year = $4,387 ($21,935/5)

4 0
3 years ago
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