The largest share of the revenues from property taxes and sales and gross receipts taxes are generally received from state and local governments. Individual income taxes are another major source of income.
Explanation:
In fiscal 2010 the total US government and local tax revenues—35% came from property taxes and 34% from sales and gross taxes. In 2010, local governments collected a little more than 75% of their 2010 property tax receipts. Local government tax revenues are primarily financed by property taxes.
Nevertheless, sales taxes and gross income taxes were the major source of revenue for governments. In 2010, the Member States received less than half of their income from sales and gross receipts taxes.
Answer: A greater and fall
Explanation:
Economies of scale are said to exist when inputs are increased by some percentage and output increases by a(n) greater percentage, causing unit costs to fall. This is referred to as the cost advantages obtained by companies when production becomes well organized. One reason for economies of scale is specialization of labor and of machinery. This brings a great input to production because Labour must have mastered his/her field coupled with the help of machinery which will eventually result into a great turn out.
Answer: $324,000
Explanation:
Cedar Corp. paid $432,000 for a year in advance. According to the Accrual principle in Accounting, expenses are to be recorded only when incurred.
The rent will therefore have to be apportioned to the months that it has paid for in the current period.
Rent for year = $432,000
Rent for month = 432,000/12 = $36,000
April - December = 9 months
Rent for the year = 9 * 36,000
= $324,000
Note; <em>Question is about Rent expense which is how much Cedar Corp has paid not about how much they have received. </em>
<h3>Hello there!</h3>
Your question asks what order does a activity-based costing system work by.
<h3>Answer: b, c, a, d</h3>
The order:
1. b). Identify activities and estimate their total indirect costs.
2. c). Identify the allocation base for each activity and estimate the total quantity of each allocation base.
3. a). Compute the predetermined overhead allocation rate for each activity.
4. d). Allocate indirect costs to the cost object.
The reason why the answer choice "b, c, a, d" is the correct answer because that's the correct order for the activity-based costing system.
The activity-based costing system first identifies the activities that are going on and find the indirect cost, then identifies the allocation base for the activities that are occurring to find the quantity of the allocation base, then solve the pre-determined rate of allocation for each activity, and finally get the indirect cost for the object.
<h3>I hope this helps!</h3><h3>Best regards,</h3><h3>MasterInvestor</h3>
Answer:
a responsibility center that incurs costs and generates revenues.
Explanation:
We know that
The profit = Sales revenue - cost
After selling the product and incurred expenses, the amount which is left is shown as a profit. The remaining amount is termed as a profit that a firm has earned during a particular year.
It is the responsibility center at which we know about the total cost incurred and total revenues earned so that it becomes easy to compute how much the firm has earned the profit in a year.
