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3 years ago

What is the correct statement about regressive taxation?

Business

1 answer:

Karolina [17]3 years ago

8 0

Answer:

B. The sales tax you pay when you fill your car up with gas is regress

Explanation:

Gasoline tax is regressive because everyone regardless of their income level pay the same amount of tax per gallon of gas purchased. A progressive tax means that people that have higher incomes will pay a higher tax rate, for example, federal income taxes. Every flat tax (same percentage for everyone) is regressive.

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Rogers Company reported net income of $44,417 for the year. During the year, accounts receivable increased by $5,230, accounts p

damaskus [11]

Answer:

c. $44,417

Explanation:

The computation of the Net cash provided by operating activities for the year is shown below

Cash flow from operating activities

Net income $44,417

Less Increase in account receivable -$5,230

Less Decrease in account receivable -$3,590

Add depreciation expense $48,113

Net cash provided by operating activities $83,710

hence, the correct option is c.

6 0

3 years ago

Open a general journal for the City of Monroe Community Foundation Trust Fund and record the following transactions for the year

ICE Princess25 [194]

Answer:

The beginning part of the question is found below:

The City of Monroe Scholarship Foundation private-purpose trust fund had the following account balances on January 1, 2017:

Debits Credits

Cash $49,500

Accrued Interest Receivable $7,500

Investments in Corporate Bonds $750,000

Net Assets Held in Trust $807,000

Totals $ 807,000 $ 807,000

Find below the necessary journal entries in the explanation section:

Explanation:

The interest received =6%*$750,000*6/12=$22,500

Dr Cash $22,500

Cr Interest income(balance) $15,000

Cr Accrued interest receivable $7,500

Additional funds of $205,500 received:

Dr Cash $205,500

Cr donation income $205,500

the investment of $200,000 in corporation stock

Dr investment in corporation stocks $200,000

Cr Cash $200,000

receipt of half of the year annual interest on bonds(as calculated above at $22,500)

Dr cash $22,500

Cr Interest income $22,500

cash is debited when there is an inflow and credited in case of outflows

The investment account is debited because it is an asset

8 0

4 years ago

What other structures discussed in the chapter might allow the organization to operate more effectively? For example, would the

Pachacha [2.7K]

Explanation:

In that question, the answer is that a move to a product team structure would lead to greater efficiency or effectiveness would depend on the type of product or service the organization offers. Its structure must be developed so that its objectives and goals are more effectively achieved. In a functional structure, for example, which operates in the form of specific departments formed by people who use the same knowledge, tools or techniques to carry out a job, the product team's structure would not be as efficient and effective because all efforts of the divisions of a company with a functional structure are to offer the same product or service, through a system of systematized activities that integrate the organizational whole.

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4 years ago

Rao’s Finance claims that less than 50% of adults in Suva have a will. A will is a legal document that sets forth your wishes re

ddd [48]

Answer:

A. Check attachment for proportion hypothesis test

B. Type I error is to conclude that less than 50% of adults in Suva have a will when actual probability is less than 0.5

Probability of type I error= significance level= 0.05

C. If type I error is zero, then we would not be able to reject the null hypothesis

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3 years ago

If consumers consider beer and wine substitute goods, the products would have a __________ cross-elasticity of demand and an inc

pshichka [43]

Answer:

The correct to the first fill in the blank is positive and answer to second fill in the blank is increase .

Explanation:

Cross price elasticity of demand can be defined as the measurement of change in quantity demanded one good that is in response to the change in price of another good.

Cross price elasticity of demand is said to be positive when the gods are substitute, which means that if there is an increase in price of one good than there will increase in demand of other good, same way if there is decrease in price of one good than there will be decrease in demand of other good.

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3 years ago