So, the dollar price of the jeans is the nominal variable, and the relative price is the real variable. The relative price of the jeans have been adjusted to inflation. The dollar price hasn't been adjusted for inflation, hence why it is the nominal variable (not adjusted for inflation).
<u>Solution and Explanation:</u>
SC's Depreciable assets for the purpose of financial reporting and income taxes were $40000 and $33000 respectively. Its taxable income is$97000.Temporary difference will be there because of Depreciation.
Temporary Difference=Financial reporting Dep-Income tax depreciation
=40000 minus 33000
=7000
Pretax financial income=taxable income+Temporary Difference
=97000+7000=$104000
Deferred tax liability=7000 multiply 30%=2100
Income tax expense=104000 multiply 30%=31200
Income tax payable=97000 multiply 30%=29100
Dec 31 Income Tax ExpensenA/C Dr. $31200
To Income Tax Payable A/C $ 29100
To Deferred Tax Liability A/C $ 2100
<u>
Answer:b
</u>
Slatter Company
Partial Balance Sheet
December 31, 2013
Noncurrent Liabilities
Deferred Tax Liability $2100
<span>The farmer is better off being a farmer. After 1 year the farmer will have made 900,000 off of 300,000 baskets. Minus the lease of land and payment of workers, the farmer will have over 650,000. Leave that in the bank and do it another year, interest at 22% would net around 147,000. Add that to 650kx2. That equals a little over 1.4 million. So in closing, farmer is more lucrative than shoe salesman.</span>
Answer:
Both cover an unexpected loss of income.
Explanation:
Both life insurance and disability insurance protect personal finances during a disaster. Life insurance pays beneficiaries when the insured dies. Disability insurance compensates for lost income when one is unable to work as a result of injuries.
Life and disability insurance policies are about financial loss protection. Life insurance protects the insured's beneficiaries against financial loss when the insured dies, while disability insurance covers the insured against any financial loss due to the inability to work.
Answer:
"Inflation" implies that pressure for price increases reaches across "most" markets, not just one.
