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alexandr402 [8]
3 years ago
8

in the two-period model, if consumption in both periods is a normal good, then an increase in income in period two: does not inc

rease consumption in either period. increases consumption in period one only. increases consumption in period two only. increases consumption in both periods.
Business
1 answer:
Readme [11.4K]3 years ago
5 0

Answer:

increases consumption in both periods.

Explanation:

A normal good is any product or service whose demand increases as consumers' income increases. The demand for a normal good will also increase due to the improvement in economic conditions in an economy.

A normal good is regarded to be of high utility value. Its consumption provides consumers with greater satisfaction. As a result, if consumer's income increase, demand for normal goods increases. Should consumption increase in a period, the demand will increase. The demand will continue to rise if incomes increase.

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Both Schedules M-1 and M-3 require taxpayers to identify book-tax differences as either temporary or permanent. T/F
FinnZ [79.3K]

Answer:

The correct answer is False.

Explanation:

Schedule M-1 is required when the gross income of corporations or their total assets at the end of the year is greater than $ 250,000.

Schedule M-3 asks certain questions about the financial statements of the corporation and reconciles the net income (loss) of the financial statements for the corporation (or group of consolidated financial statements, if applicable).

8 0
3 years ago
Andy’s business is not able to pay its debts, and the prospects for its finances to improve are slim. Andy decides not to contin
aalyn [17]

Answer: a. Chapter 7

Explanation:

Chapter 7 bankruptcy is a type of bankruptcy that allows trustee to sell a few of one's property in other to repay creditors. It also allows the cancelation of some debt. The chapter 7 bankruptcy is also known as straight or liquidation bankruptcy and it is the most commonly used especially by individuals.

3 0
3 years ago
An outside supplier offers to provide Epsilon with all the units it needs at $63.05 per unit. If Epsilon buys from the supplier,
ICE Princess25 [194]

Answer:

Make since the relevant cost to make it is $59.05

Explanation:

Calculation to determine what Epsilon should choose to:

Relevant costs to make = 8.20 + 24.20 + [41*(100%-35%)]

Relevant costs to make = 8.20 + 24.20 + (41*65%)

Relevant costs to make = 8.20 + 24.20 + 26.65

Relevant costs to make =$59.05

Therefore Epsilon should choose to: MAKE SINCE THE RELEVANT COST TO MAKE IT IS $59.05

8 0
3 years ago
Coronado Industries is contemplating the replacement of an old machine with a new one. The following information has been gather
Lostsunrise [7]

Answer:

$32,000

Explanation:

Net advantage = Annual operating cost

Net advantage = [(Old machine - New machine)*10 life] - New machine cost + Old machine cost

Net advantage = [($320000 - $240000)*10] - $800000 + $32000

Net advantage = [($80000)*10 - $768,000

Net advantage = $800,000 - $768,000

Net advantage = $32,000

So, the net advantage of replacing the old machine is $32,000

4 0
3 years ago
Coastal Shores Inc. (CSI) was destroyed by Hurricane Fred on August 5, 2021. At January 1, CSI reported an inventory of $170,000
Fofino [41]

Answer:

$65,000

Explanation:

Calculation to determine what The estimated inventory loss due to Hurricane Fred would be

Beginning inventory$170,000

Add Net purchases195,000

Goods available for sale365,000

($170,000+$195,000)

Less: Cost of goods sold (300,000)

($480,000/160%)

Estimated ending inventory$65,000

($365,000-$300,000)

Therefore The estimated inventory loss due to Hurricane Fred would be $65,000

8 0
3 years ago
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