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Ronch [10]
3 years ago
12

Match each type of tax with its correct description.

Business
1 answer:
Masja [62]3 years ago
9 0

Answer:

1. Medicare tax.

2. Local income tax.

3. Federal income tax.

4. Social Security tax.

5. State income tax.

Explanation:

Taxation can be defined as the involuntary or compulsory fees levied on individuals or business entities by the government to generate revenues used for funding public institutions and activities.

The various type of tax with their correct description are;

1. Medicare tax: it is used to support healthcare costs for retired workers. An example is the Affordable Care Act (ACA) which became effective on the 23rd of March, 2010 and it's focused on making affordable health insurance available to qualified people or households through cost-sharing reductions and premium tax credits (subsidies).

2. Local income tax: it is collected by town, school district, counties and cities to fund city or community programs.

3. Federal income tax: it is collected from most workers, who pay up to 39.6 percent of their earnings. This type of tax is paid by employees with respect to the amount of money they receive as their wages or salary.

4. Social Security tax: it is used to provide financial support to retired and disabled workers. In the United States of America, the Social Security Administration (SSA) adopted the Old-Age, Survivors, and Disability Insurance (OASDI) program to support retired and disabled workers.

5. State income tax: it is collected from workers in most states to fund their budget and the rate differs from state to state.

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3 years ago
Failure to pay a loan is referred to as:
LiRa [457]
That would be:

B.) Defualt
3 0
3 years ago
Read 2 more answers
Because people prepare budgets, budget figures are often biased. Which of the following is true? a. When senior management sets
eduard

Answer: B

Explanation:

Budgetary slack is a cushion created in a budget by management to increase the chances of actual performance beating the budget. Budgetary slack can take one of two forms: an underestimate of the amount of income or revenue that will come in over a given amount of time, or an overestimate of the expenses that are to be paid out over the same time period. Budgetary slack is generally frowned upon because the perception is that managers care more about making their numbers to keep their seats and gaming the executive compensation system rather than pushing company performance to its potential. Managers putting a budget together could low-ball revenue projections, pump up estimated expense items, or both to produce numbers that will not be hard to beat for the year. It also provides flexibility for operating under unknown circumstances, such as an extra margin for discretionary expenses in case budget assumptions on inflation are incorrect, or adverse circumstances arise.

4 0
3 years ago
Specialty stores like Lids carry ________ with ________. A. wide product lines; shallow assortments B. narrow product lines; sha
4vir4ik [10]

Answer:

narrow product lines; deep assortments

Explanation:

product line is group of same type of product selling under a same brand name.

narrow and wide product line is defined on the basis of number of type of product being sold by a retailer.

Narrow product line is a retailing strategy which means that few type of products which is being sold by a retailer.

Example: Pizza hut which sells only limited number of eatables thus they have narrow product lines

Wide product line means very high number of different type of product is being sold by the retailer.

Example:wall mart which sells wide number of products

Assortment is strategy in retail which defines number of different brands of same type of product which is being sold by a retails.

It is of two types

shallow assortments: It means very few brands of same type of product is offered by a retailer.

deep assortment: It means large of number of different brand of same type of product is being sold by a retailer.

Specialty stores are store which sell only limited type of product but they offer wide variety of choices of brand for the products which they sell. In retail marketing term they keep narrow product line but deep assortments as mentioned in the definitions above

Since Lids is a specialty store the correct option would be narrow product line, deep assortments.

4 0
3 years ago
Read the Blumberg v. Ambrose case that begins on page 597 of the text (Chapter 17). Respond to the following questions: If an LL
vampirchik [111]

Answer:

both persons worked together to create and monetize campDoc without compensation. Also at the part where percentage of equity ownership was discussed, Ambrose referred to blumberg as a co-founder

Explanation:

From this case, there was a formulation of a partnership. Both ambrose and blumberg had discussed how to maintain medical records digitally so as to reduce the amount of paperwork. Both persons collaborated and did so eventually. Blumberg was involved in testing and marketing the program while Ambrose was in charge of administrative affairs. Problems arose when Ambrose filed campDoc as a limited liability company with himself as the sole owner.

An LLC gives a business option where the business owner has owners liability protection against debt and also company action. This is a risk reducing option.

Partnership has two or more people coming together to start or run a business. The partners have complete liability.

A partnership was formed as both persons worked together to create and monetize campDoc without compensation. Also at the part where percentage of equity ownership was discussed, Ambrose referred to blumberg as a co-founder.

7 0
3 years ago
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