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3 years ago

How does an increase in income increase tax revenue

Business

1 answer:

earnstyle [38]3 years ago

6 0

Answer:

An increase in income will increase tax revenue because the more taxes and tax write-offs will lead to more in tax returns.

Explanation:

The more income you make the more taxes you will pay, after write-offs you will end up earning more back in tax returns than you would if you made less

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Do you think it is easier or harder to be ethical in a leadership role?

love history [14]

Ethically probably harder,

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3 years ago

Kuzio Corporation produces and sells a single product. Data concerning that product appear below: Per Unit Percent of Sales Sell

sladkih [1.3K]

Answer:

Effect on income= $9,600 increase

Explanation:

Giving the following formula:

Unitary contribution margin= $90

The marketing manager believes that a $7,500 increase in the monthly advertising budget would result in a 190 unit increase in monthly sales.

<u>To calculate the effect on income, we need to use the following formula:</u>

Effect on income= increase in total contribution margin - increase in fixed costs

Effect on income= 190*90 - 7,500

Effect on income= 17,100 - 7,500

Effect on income= $9,600 increase

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3 years ago

What will NOT cause a shortage?

sweet-ann [11.9K]

<h3>Answer: D) increase in prices</h3>

An increase in prices will reduce demand, and not supply. You could have an increase in prices due to a shortage, but price increases could also be from a number of other factors, one of which is demand increasing.

Meanwhile, war, scarcity and extreme weather all are possible factors of a shortage. So we can cross choices A,B,C off the list.

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3 years ago

Ming Chen began a professional practice on June 1 and plans to prepare financial statements at the end of each month. During Jun

Leya [2.2K]

Answer:

The accounting equation holds as follows:

Asset = Liabilities + Equity = $80,000

Explanation:

Note: See the attached excel file for the analysis of the Effect of June Transactions on the Accounting Equation

From the last balances in the attached excel file, we have:

Assets = Cash + Receivable + Equipment = $41,000 + $8,000 + $31,000 = $80,000

Liabilities = Payable = $0

Equity = M. Chen, Capital - M. Chen, Withdrawals + Revenue - Expenses = $75,000 - $1,000 + $10,500 - $4,500 = $80,000

Liabilities + Equity = $0 + $80,000 = $80,000

Therefore, the accounting equation holds as follows:

Asset = Liabilities + Equity = $80,000

Download xlsx

4 0

3 years ago

Which of the following is most likely to be a constraint to implementing your suggested solution?A. Sales reps who are unwilling

pentagon [3]

<u>Explanation</u>:

i. Limited cash on hand to make changes

It is apparent from the case that the company is experiencing a drop in the sales from the past 5 years and thus, the financial reserves will be a constraint in the accomplishment of the idea.

ii. Costumers purchase lifestyle products from people who they know and who have expertise

It is the idea that the director of the company mark always encourages direct interaction with the clients and personal selling rather than retail or online sales considering personal relation makes exposure to the experts and their advice.

iii. Meet with mark, your direct supervisor, about how to establish your credibility with the owner

Being a newbie to the company, it is a wise option to follow the instructions of the reporting authority to establish rapport with the owner of the organization.

iv. Sales have declined because customers have lower disposable income

It is also evident from the case of the financial crisis and recession in going in the market due to which the customer has a lower income to make purchases.

v. Suggesting techniques to help our sales reps become more trusted advisors

It is the time to perform a forward step by the sales reps to take the role of the advisors i.e. trusted ones for the customer in recommending the best of all.

6 0

3 years ago

How does an increase in income increase tax revenue​

How does an increase in income increase tax revenue