Answer:
<u>b. Sales tax in a state with no income tax</u>
Explanation:
- Under the laws of the united states, itemized deductions are eligible expenses that an individual taxpayer can claim on federal income if available.
- Based on there taxable incomes the taxes can be deduced and the sales taxes with no income tax do not come under the deductible tax.
- The list of expenses can also be itemized by there are limited to the tax year.
Answer:
C. Relevant range of production
Explanation:
Answer:
A) we often do not have sufficient resources to achieve our objectives
Explanation:
Scarcity is an economic problem that comes with scarce resources and unlimited wants. In this situation people have to decide on how to allocate resources better so as to satisfy their need, which involves opportunity cost.
Scarcity occurs when resources needs to satisfy ends are limited in supply. It is a foundational problem in economics.
Answer:
The answer is:
Dr Unearned Service Revenue 4,800
Cr Service Revenue 4,800
Explanation:
Since Laferty completed 60% of the landscape plan during this year, they should record $4,800 as earned revenue ($8,000 x 60%), while the remaining $3,200 should stay as unearned revenue. The journal entries should be as follows:
Dr Unearned Service Revenue 4,800
Cr Service Revenue 4,800
