Answer:
Governments of different countries protect the interests of the consumers through the mechanism created by three types of legal provision. These are direct consumer protection laws, anti trust laws or the laws to curb monopolistic practices, and laws to govern management of corporations including trading exchanges.
Answer:
$1,240,000
Explanation:
Given that,
Net income = $1,000,000
Pretax foreign currency translation adjustment = $400,000
Unrealized pretax loss on debt securities = $80,000
Effective tax rate = 25%
Total other comprehensive income:
= Foreign currency translation adjustment - Loss on debt securities
= [$400,000 × (1 - 25%)] - [$80,000 × (1 - 25%)]
= ($400,000 × 0.75) - ($80,000 × 0.75)
= $300,000 - $60,000
= $240,000
Comprehensive income:
= Net income + Total other comprehensive income
= $1,000,000 + $240,000
= $1,240,000
Answer:
The corporation's tax liability is $ 228,820.
Explanation:
To calculate tax liability we first have to find net profit. Detail calculation is given below.
<u><em>Net profit Calculation</em></u>
Sales $ 3,130,000
cost of goods sold and the operating expenses ($ 2,080,000)
Interest expense ( $ 377,000)
Net profit $ 673,000
<u><em>Tax liability Calculation</em></u>
Income fall under Tax bracket of 34% ($75,001 to $10,000,0000 for corporate tax. No additional surtax will be charged as income do not fall under its net.
Tax liabilty = 673,000 * 34% = $ 228,820
FOR:
- increased income for workers
- more workers attracted to the workforce
- less strain on federal resources for those in poverty
Against
- more costly for businesses
- possible unemployment due to job automation
- higher prices for consumers.
Here are some basic arguments. You will need to explain these a bit more for your assignment though.