Answer:
B. is a particular set of institutional arrangements and a coordinating mechanism used to respond to the economizing problem.
Explanation:
Economic system -
It is the system that is responsible for the resource allocation , production and the distribution of the services and goods , is known as an Economic system .
Economic system includes - the institutions of decision-making , agencies .
It works to deal with the problem related to the economy of a country or society .
Hence , the correct option is ( b ) .
The most important tax rate for determining an individual's incentive to work is the margnal tax rate.
<h3>What is a tax?</h3>
Tax refers to the compulsory financial charge or levies on an individual or entities by governments in almost every country of the world.
Tax is a tariff or duty that is the revenue of the government which is levied by it on the income of the workers, business profits, and also added to goods and sevices.
A tax rate is the rate or a percentage at which an individual or corporation is taxed. Basically, there are two types direct taxes and indirect taxes.
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Answer:
DEMAND AND SUPPLY SHIFTS IN FOREIGN EXCHANGE MARKETS
Answer:
B. $ 920 increase liabilities, increase expenses
Explanation:
The interest expense for the entire duration of the loan (1 year) may be determined as the product of the interest rate percentage on the principal amount borrowed.
As such, interest for the duration of the loan
= 4% * $92,000
= $3680
As at the end of the first quarter (March 31), amount of expense to be accrued
= 1/4 * $3680
= $920
To account for this,
Debit Interest expense $920
Credit Accrued Interest $920
Hence Expense increase as well as liability in form of accrued expense.
