1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
shusha [124]
3 years ago
6

A substantial revision of the income tax code that made business and personal tax returns much easier to complete would tend to

cause which of the following changes in the labor market for accountants?
a. an increase in the demand for accountants
b. an increase in the employment of accountants
c. a decrease in the wage rate of accountants
d. an increase in the number of students choosing to major in accounting

Business
1 answer:
finlep [7]3 years ago
6 0

Answer:

c. a decrease in the wage rate of accountants

Explanation:

As a result of the revision that makes personal tax returns much easier to complete, people would no longer need the services of accountants to calculate their tax returns. As a result, the demand for accountants would fall, all other things remaining equal.

The fall in demand would lead to a fall in wage rate of accountants

Please check the attached image for a graph explaining this concept

You might be interested in
What are three thing an entrepreneur invest in his or her business
Snezhnost [94]
App create????? No way that’s sus!!!
3 0
3 years ago
Read 2 more answers
Shroden is a consumer goods manufacturer. It manufactures cookies, batteries, toothpaste, and soap. In the context of operations
Ray Of Light [21]

Answer:

inventory

Explanation:

Every item that is produced or purchased by the business in order to resell it and earn profit through it as a normal purpose of business, is considered as inventory.

In the given instance, Shroden manufactures consumer goods, like cookies, batteries, etc:

And since he targets to sell them and earn profit, all these manufactured products is the inventory of his business.

3 0
3 years ago
Chuck earns an additional $40,000 of taxable income, what is his marginal tax rate on this income? What is his marginal rate if,
yulyashka [42]

Answer:

The question is not complete.

Here is the complete question:

Chuck, a single taxpayer, earns $75,000 in taxable income and $10,000 in interest from an investment in City of Heflin bonds. (Use the US tax rate schedule)

Required:

a. If Chuck earns an additional $40,000 of taxable income, what is his marginal tax rate on this income?

b. What is his marginal rate if, instead, he had $40,000 of additional deductions?

Here are the answers:

a. 24%

b. 12%

Explanation:

Marginal tax rate is an incremental tax rate that is paid out of the taxable income of a tax payer. It represents the rate at which the last unit of dollar of the taxable income is taxed. The marginal rate for each income bracket is supplied by the Internal Revenue Service (IRS).

                                Chuck Marginal Tax Rate

a) The marginal tax rate for Chuck if he earns additional $40,000 taxable income will be:

= $75,000 + $40,000

= $115,000

Marginal tax rate for $115,000 is 24% according IRS tax rate schedule.

b) If instead, it is an additional deduction of $40,0000, the marginal tax rate will be:

= $75,000 - $40,000

= $35,000

The marginal tax rate for taxable income of $35,000 is 12% according IRS tax rate schedule.

Note: the interest is categorized as interest from municipal bond, so it is tax free.

It is also assumed that Chuck is single. Hence, tax rate under single filer applies to him.

6 0
3 years ago
The use of accelerated depreciation:____.a. discourages investment in plant and equipment. b. increases expenses and decreases c
Elena-2011 [213]

Answer:

c. initially decreases the firm's taxes

Explanation:

Accelerated depreciation provides for a higher rate of capital allowance on the assets that is New and Unused and brought in the business for use in manufacturing for the first time. This allowance then lowers for the other years. The purpose of this is to encourage  investment in plant and equipment as it initially decreases the firm's taxes.

8 0
3 years ago
According to classical macroeconomic theory, changes in the money supply affect:_______.
Ivahew [28]

Answer:

Option A. real GDP and the price level.

Explanation:

Option “A” is correct because the change in money supply (say increase) will decrease the interest rate and that will result in an increase in investment and more investment will generate more jobs and more money in consumers’ hands. Thus, they will stimulate the spending and aggregate demand will increase. Resulting in the rise in price and rise in real GDP. therefore, option A is right.

6 0
2 years ago
Other questions:
  • What action may be taken if a bill stagnates in a house committee?
    15·1 answer
  • Martha must drive twenty miles to get to the nearest grocery store. she often buys her daily items from a convenience store near
    7·1 answer
  • A popular sports company grants a license to people who use their logo on T-shirts and caps. They charge the company for the rig
    5·2 answers
  • A government has the following debt: Capital lease liabilities that mature in more than one year (General Fund department leases
    7·1 answer
  • When the government levies a $100 million tax on people's income and puts the $100 million back into the economy in the form of
    5·1 answer
  • In​ 2016, global revenue for Amazon was​ ________ when measured in local currencies than it was when measured in dollars. This o
    11·1 answer
  • Allen Boating Company manufactures special metallic materials and decorative fittings for luxury yachts that require highly skil
    11·1 answer
  • When leaving a job, desirable knowledge employees are most likely to find new employment on Internet career sites and go alone t
    15·1 answer
  • An actual agency that arises by deduction or inferences from other facts and circumstances, including the words and conduct of t
    15·1 answer
  • Select the correct answer.<br> A teacher is an example of a social type.<br> A. True<br> B. False
    7·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!