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3 years ago

2. Which of the following statements about taxes

Business

1 answer:

Nezavi [6.7K]3 years ago

7 0

Answer:

C. Taxes are the major source of revenue for

the government.

Explanation:

The government imposes taxes on incomes, goods and services sold, imports, and other items to raise money to finance its operations. Therefore, taxes are a source of revenue for the government.

The government also engages in other revenue-generating activities such as trade through state-owned corporations. As a composition of total revenue collected, taxes are the biggest contributor to government revenues.

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An increase in the real wage would result in a:________. a. shift of the labor demand curve, causing an increase in the number o

barxatty [35]

Option C

An increase in the real wage would result in a: movement along the labor demand curve, causing a decrease in the number of workers hired by the firm.

<u>Explanation:</u>

The wage rate is circumscribed by the crossing of supply and demand for labor. The demand curve depends on the marginal product of labor and the cost of the good labor originates.

A variation in the wage or payroll will end in a shift in the amount necessitated of labor. If the wage rate increases, organizations will require to hire fewer employees. The quantity of labor demanded will decline, and there will be a movement skyward on the demand curve.

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3 years ago

Your company is aware of major flaws in the design of one of its products. Your supervisor directed you to lie to a client about

son4ous [18]

I would probably consider this situation between the employee and his supervisor to be an: ethical dilemma.

An ethical dilemma is also referred to as moral dilemma or ethical paradox and it can be defined as a complex problem or situation in the decision-making process between two (2) available options, which are both absolutely unacceptable from an ethical perspective.

This ultimately implies that, an ethical dilemma requires an employee to compromise on his or her moral standards and ethical principles.

In this scenario, the employee is left with the option of either lying to a client to get the sale or risk loosing an opportunity for promotion. Thus, this situation between the employee and his supervisor would be considered to be an ethical dilemma.

Read more on ethical dilemma here: brainly.com/question/502735

7 0

3 years ago

Of all the pieces of the planning puzzle, the ________ is the most strategic and critical

Vlad1618 [11]

Answer:

facility location

Explanation:

For operations manager in a business organization, selecting the facility layout is the most strategic and critical factor of all the pieces of planning puzzle. This is because if a wrong location is selected for the layout, it could create inefficiency for the business as well as increase costs for them.

Some of the determinants of facility layout are; how close is the facility location to the required labor, customers, suppliers etc. Also , environmental regulations are also considered when citing a facility.

One of the basic importance of facility location is to know how workers would work which would in turn bring about production efficiency.

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3 years ago

Equipment acquired on January 6 at a cost of $375,000 has an estimated useful life of 20 years

inessss [21]

Answer:

A. Year 1 $17,500

Year 2 $17,500

Year 3 $17,500

B. $322,500

C. Dr Cash $300,000

Dr Accumulated Depreciation-Equipment $52,500

Dr Loss on disposal of Equipment $22,500

Cr Equipment $375,000

D. Dr Cash $325,000

Dr Accumulated Depreciation-Equipment $52,500

Cr Equipment $375,000

Cr Gain on disposal of Equipment $2,500

Explanation:

A. Calculation to determine What was the annual amount of depreciation for the Years 1-3 using the straight-line method of depreciation

Year 1 Depreciation expense Year 1=($375,000-$25,000)/20 years

Year 1 Depreciation expense Year=$17,500

Year 2 Depreciation expense Year=($375,000-$25,000)/20 years

Year 2 Depreciation expense Year=$17,500

Year 3 Depreciation expense Year=($375,000-$25,000)/20 years

Year 3 Depreciation expense Year=$17,500

Therefore the annual amount of depreciation for the Years 1-3 using the straight-line method of depreciation is :

Year 1 $17,500

Year 2 $17,500

Year 3 $17,500

B. Calculation to determine What was the book value of the equipment on January 1 of Year 4

Book value of Equipment=[$375,000-($17,500*3)]

Book value of Equipment=[$375,000-$52,500)

Book value of Equipment=$322,500

Therefore the book value of the equipment on January 1 of Year 4 is $322,500

C. Preparation of the journal entry to record the sale.

Jan. 3

Dr Cash $300,000

Accumulated Depreciation-Equipment $52,500

($17,500*3)

Dr Loss on disposal of Equipment $22,500

($322,500-$300,000)

Cr Equipment $375,000

(To record sales)

D. Preparation of the journal entry to record the sale.

Jan. 3

Dr Cash $325,000

Dr Accumulated Depreciation-Equipment $52,500

($17,500*3)

Cr Equipment $375,000

Cr Gain on disposal of Equipment $2,500

($325,000+$52,500-$375,000)

(To record sales)

7 0

3 years ago

Define business structure?

OLga [1]

Answer:

Business structure refers to the legal structure of an organization that is recognized in a given jurisdiction. ... The four main forms of business structures in the United States include sole proprietorship, partnership, limited liability company, and corporation.

Explanation:

7 0

3 years ago