Answer:
Document
Explanation:
Remittance advice is a document sent by a customer to a seller, informing the seller that an invoice has been paid.
Answer:
Explanation:
Tax is a compulsory contribution levied by the government on income earners and the profits of those in business in order to raise funds for public expenditures. It comes in various forms as listed.
Federal income tax : Collected from citizens who pay up to 39.6% of their earnings
Medicare Tax: Used to support health care costs for retiree
State income tax : Collected from citizens in most state
Social security tax: Used to financially support retired people and people with disabilities
Local income tax: Collected by towns and cities to fund city program
Answer:
b. it is expensive and requires a great deal of effort.
Explanation:
selling on credit is basically lending money to customers and it can be very expensive for a small business. First of all, the risk of not getting paid always exists. Second, a small business doesn't generally have excess cash in order to finance credit sales. This means that you might probably need to borrow money yourself to finance your customers.
The good side of credit sales is that they might help you increase your total sales. But you have to calculate which is higher, the costs or the benefits.
Answer: $10,869.57
Explanation:
The Nominal GDP is the total amount of final goods and services produced in a country within a period, usually a year. It is calculated using the current year's prices.
Real GDP adjusts the Nominal GDP for price changes by using the price level of a certain base year.
The GDP Deflator is the price level of the current year and can be useful in calculating how much the prices have risen or fallen from the prices of the base year.
The formula is;
(Nominal GDP/Real GDP)*100 = GDP Deflator
Making Real GDP the subject;
Real GDP = (Nominal GDP/GDP Deflator)*100
= (10,000/ 92) * 100
= $10,869.57
