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ycow [4]
3 years ago
14

Which interest-bearing account is best for people who won't need access to their money for several months or longer?

Business
1 answer:
Alecsey [184]3 years ago
3 0
The answer is A. 
CD(<span>Certificate of Deposit)</span> is similar to a saving account, but it has additional perks. There is a minimum amount of money you have to deposit and you have to deposit that money for a certain amount of time (term). CDs have better interest rate than savings accounts, but if you withdraw your money before the term you pay penalties.
This makes them a good option for people have some extra money that they won't need in a near future.
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Jurisdiction E spends approximately $7 million each winter on snow removal. The jurisdiction is considering adding a new income
frez [133]

Answer:

'Taxes' can be defined as a compulsory contribution to the state's or country's revenues, which are levied by the governments on personal incomes of individuals or profits of the corporate, or on some transactions.

Taxes are the main source of revenues for any government, through which it receives the necessary funds to spend on various activities it undertakes for public welfare and maintaining the law and order and security of the nation.

Many theorists believe that every tax should be evaluated on certain standards and the following four standards have been mentioned for evaluating whether taxes are good or not:

  1. Taxes should be sufficient to fulfill the government's requirements
  2. Taxes should be convenient for the government to implement and for the citizens to pay
  3. Taxes should be efficient economically
  4. Taxes should be fair

There may be certain provisions introduced in the federal tax system, which are targeted to induce certain behaviors or shift people's attention towards certain activities. These provisions are called tax preferences

Does this proposed change in Jurisdiction E's tax law meet the definition of a tax preference? Explain briefly.

In the given question, the decision of the jurisdiction to give deduction to the people for the snow removal equipment they purchase, is definitely a tax preference as it induces people to invest in snow removing machines, as they are getting full deduction of such expense in income taxes.

By having this provision, the government is motivating people to invest in these machines, and people also have the benefit of having such machine with them, and also getting tax deduction for such expense, so getting such machine almost free (this applies to people who have incomes in such tax bracket only). Thus it is the way of government in encouraging people to buy snow removing machines and reduce the burden on the government. Thus it is clearly a tax preference.

Jurisdiction E forecasts that the proposed change will decrease its annual tax revenues by $250,000 but will improve the jurisdiction's financial condition by $300,000. On what assumptions is this forecast based?

The forecast regarding decrease in annual tax and improvement in financial condition is based on the assumptions of people taking benefit of such a provision, and actually investing in snow removing machines.

The jurisdiction believes that people will purchase the machines and make claims for deductions, effecting the tax revenue by $250,000. But at the same time, as many people will themselves remove the snow, the government doesn't have to spend so much on snow removal and thus make the savings of $300,000

6 0
3 years ago
Compute and interpret the fixed overhead budget and volume variances.
romanna [79]

It can be calculated using the following formula: Fixed Overhead <u>Volume </u>Variance = Applied Fixed Overheads – Budgeted Fixed Overhead. Here, Applied Fixed Overheads = Standard Fixed Overheads × Actual Production.

Volume is a measure of the occupied three-dimensional space. [1] Often quantified numerically using SI units (such as cubic meters and liters) or various imperial units (such as gallons, quarts, and cubic inches). Container volume is generally understood to mean the capacity of the container. That is, the amount of fluid (gas or liquid) the container can hold, rather than the amount of space the container itself moves through.

For simple 3D shapes, you can easily calculate the Volume is a measure of the occupied three-dimensional space. [1] Often quantified numerically using SI units (such as cubic meters and liters) or various imperial units (such as gallons, quarts, and cubic inches). Container volume is generally understood to mean the capacity of the container. That is, the amount of fluid (gas or liquid) the container can hold, rather than the amount of space the container itself moves through.

learn more about Volume here.  brainly.com/question/1972490

#SPJ

8 0
1 year ago
Which of the following statements is true? A) To be more conservative in planning for an individual's retirement, decrease the i
SVETLANKA909090 [29]

Answer:

A) To be more conservative in planning for an individual's retirement, decrease the individuals life expectancy.==>TRUE

B) A sensitivity analysis helps the advisor determine the single most effective factor in a retirement plan. ==> FALSE

C) A Monte Carlo Analysis uses a random number generator to provide the advisor with an array of possible outcomes utilizing the same fact patter. ==>TRUE

D) The capital preservation model assumes that at retirement the client will have exactly the same account balance as he did at his ideal working age. ==> TRUE

8 0
3 years ago
Jackson Fabricators Inc. machines metal parts for the automotive industry. Under the traditional manufacturing approach, the par
Soloha48 [4]

Answer and Explanation:

The computation is shown below:-

<u>Particulars </u>               Traditional Philosophy     Manufacturing

                                         <u> Lean                        Philosophy</u>

Value added                 2 + 6 = 8                                 8

Non value added        8 × (50 - 1) = 392                   8 × (6 - 1) = 40

Total lead time                   400                                  48

Value-added ratio

(as a percent)              8 ÷ 400 × 100 = 2%                 8 ÷ 48 × 100 = 16.17%

5 0
3 years ago
Sheffield Company signed a long-term noncancelable purchase commitment with a major supplier to purchase raw materials in 2021 a
Sphinxa [80]

The journal entry to record the purchase of the raw materials by Sheffield Company is as follows:

Debit Purchases $1,031,600

Credit Accounts Payable $1,031,600

  • To record the purchase of the raw materials in 2021.

The December adjusting entry can be revised with:

Debit Estimated Liability $53,300

Credit Unrealized holding Loss $53,300

  • To reverse the December 31 adjusting entry.

<h3>What is an unrealized holding loss?</h3>

In this instance, the unrealized holding loss arose from the fact that the market value of the raw materials is less than the purchase amount because of the noncancelable commitment.

Thus, the unrealized holding loss arose as the difference between the market value and the purchase amount.

<h3>Data Analysis:</h3>

Purchases $1,031,600 Accounts Payable $1,031,600

Estimated Liability $53,300 Unrealized holding Loss $53,300

Thus, the entry to record the purchase is a debit to the purchases account and a credit to accounts payable.

Learn more about recording purchases at brainly.com/question/24179237

3 0
2 years ago
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