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Ira Lisetskai [31]
3 years ago
6

Which of the following statements about taxes is FALSE?

Business
2 answers:
enot [183]3 years ago
5 0
States dont collect income tax the government does so B
rewona [7]3 years ago
4 0

Answer: The answer is B: Some states don't collect tax.

Explanation:

Taxes are compulsory levies imposed on individuals by the government. It also refers to the money an individual pay to the government in order to provide public services. Taxes are levied to raise revenue for government expenditures. Taxes are used to construct and maintain good roads, build school, provide good sewage system, provide defence, electricity and so on.

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A firm that sells goods that it purchases for re-sale is a
MrRissso [65]
The answer to the question above is Re-sellers. not to mention the question above stating that a firm sells goods that is purchased for a re-sale automatically refers to the Re-sellers. The Re-sellers can be a retailer that sells to the end users or sells to other business firms like the whole seller. basically the term Re-seller is a firm that who buys product lesser in the market and sells it with added value.
3 0
3 years ago
Richard participated in a study conducted by an advertising agency. During his interview, he was asked to gauge the services pro
Rasek [7]

Answer:

The correct answer is letter "A": product-specific preplanning inputs.

Explanation:

Product-specific preplanning input is a series of efforts carried out by advertisements agencies to collect information about<em> industry competitors, work processes, and consumers patterns and preferences </em>on determined products that will allow them to create a strategy to merchandise a new good or service in the market.

Product-specific preplanning input makes use of <em>focus group interviews and demographic and psychographic segmentation </em>as feeds to create marketing strategies.

6 0
3 years ago
Moss County Bank agrees to lend the Oriole Company $560000 on January 1. Oriole Company signs a $560000, 6%, 9-month note. What
Vitek1552 [10]

Answer:

The Journal entry that Oriole Company will make to pay off the note and interest at maturity assuming that interest has been accrued to September 30 will be:

Dr Notes Payable 560,000

Dr Interest Payable 25,200

(560,000*6%*9/12)

Cr Cash 585,200

(560,000+25,200)

Explanation:

Based on the information given where Moss County Bank agrees to lend the Oriole Company $560000 on January 1 this means we have to Debit Note payable with 560,000 and since Oriole Company signs a $560000, 6%, 9-month this means we have to Debit Interest payable with 25,200 (560,000*6%*9/12) and Credit Cash with 585,200 (560,000+25,200).

4 0
3 years ago
Define bank run in your own words.​
lina2011 [118]

Answer:

A bank run occurs when a large number of customers of a bank or other financial institution withdraw their deposits simultaneously over concerns of the bank's solvency. As more people withdraw their funds, the probability of default increases, prompting more people to withdraw their deposits.

5 0
2 years ago
Mary Sunny began business as Sunny Law Firm on November 1. Record the following November transactions by making entries directly
Alenkinab [10]

Answer:

a.  

Dr. Cash   15000

Dr. Law Library (Asset) 6000

Cr. Mary (Capital Account) 21000

b.

Dr. Office equipment 7500

Cr. Account Payable  7500

c.

Dr. Cash   1500

Cr. Income / Revenue 1500

d.

Dr. Account Payable  3500

Cr. Cash   3500

e.

Dr. Account Receivable 4000

Cr. Income / Revenue 4000

f.

Dr. Marry (Capital Account) 2000

Cr. Cash   2000

g.

Dr. Cash   2500

Cr. Account Receivable (e) 2500

h.

Dr. Salary Expense  2500

Cr. Cash   2500

Explanation:

*Trial Balance and T accounts are made in an MS Excel file which is attached please find.

Download xlsx
3 0
3 years ago
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