The creation of provisions for doubtful debts is an example of the matching principle. This principle states that expenses should be recognized in the same period as the revenues they generate.
In the case of doubtful debts, the expense is the cost of goods sold, and the revenue is the sale of the goods. By creating a provision for doubtful debts, businesses are able to match the expense of bad debts to the revenue they generated in the period when the goods were sold.
Question 4.2
The purpose of creating a provision for doubtful debts is to reduce the risk of overstated assets. When a business sells goods on credit, it records the sale as an asset, accounts receivable. However, there is always the risk that some of these accounts receivable will not be collected. By creating a provision for doubtful debts, businesses can reduce the amount of accounts receivable they report on their balance sheet. This is because the provision for doubtful debts is a contra-asset account, which reduces the amount of accounts receivable that is reported on the balance sheet.
Question 4.3
The difference between bad debts and the provision for doubtful debts is that bad debts are actual losses, while the provision for doubtful debts is an estimate of future losses. Bad debts are accounts receivable that have been written off as uncollectible. The provision for doubtful debts is an estimate of the amount of accounts receivable that are likely to become uncollectible in the future.
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During 2024 , its first year of operations, Pave Construction provides services on account of
$160,000
. By the end of 2024 , cash collections on these accounts total
$110,000
. Pave estimates that
25%
of the uncollected accounts will be uncollectible. In 2025 , the company writes off uncollectible accounts of
$10,000
. Required: 1. Determine bad debt expense for the year ended December 31, 2024. 2. Determine the financial statement effects of the write-offs in 2025. Complete this question by entering your answers in the tabs below. Determine the financial statement effects of the write-offs in 2025. Note: Amounts to be deducted should be indicated by a minus sign.
A business may use an account to record debits and credits as proof of accounting transactions in a system of accounting. As a result, the accounts receivable account keeps track of both client billings and their decreases as a result of payments received from customers.
What do accounts serve as a means for?The primary goal of accounting is to detect, quantify, and transmit economic information by recording financial transactions in the books of accounts. Also, tax reporting organizations mandate that you maintain at least minimal books that monitor your income and expenses.
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If a customer makes a partial payment of $100 on a service for which you have already billed him, you would record this transaction into the accounting equation by:____.
If a customer makes a partial payment of $100 on a service for which you have already billed him, you would record this transaction by increasing cash and decreasing accounts receivable.
The accounting equation is a fundamental accounting concept and a crucial part of the balance sheet. The calculation looks like this:
Assets = Liabilities + Shareholder’s Equity
This equation highlights the balance sheet's structure and lays the groundwork for double-entry accounting, also referred to as double-entry bookkeeping. In a double-entry accounting system, every transaction affects at least two accounts.
The balance sheet's foundation is the accounting equation. The statement of financial position and balance sheet are both financial statements. Assets, Liabilities, and Shareholder's Equity are the three main sections of the balance sheet, along with their various underlying components.
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Some ways aptitude can be learned include
borrowing it
buying it
formal education
experience
Answer: formal education
experience
Explanation:
Aptitude could be described as the capability to learn a particular job or skill. The vital way of learning and aptitude is by formal education experience. Formal education experience is a structured system of learning whereby the students are trained by teachers for a certain period of time. The environment are a classroom type which involves the student making use of various learning material, the learning process cuts across various fields of life.
for walt disney company, the best mode for going global is by:
For the Walt Disney Company, the best mode for going global would be through a combination of licensing and franchising. Licensing would allow Disney to expand its brand and reach a wider audience by allowing other companies to use its characters and content in exchange for a licensing fee. This would allow Disney to tap into local markets and cultures while maintaining control over its intellectual property.
Franchising would enable Disney to establish a presence in new markets by partnering with local businesses that have established knowledge of the local market and culture. This would also allow Disney to leverage the existing infrastructure of its partners, reducing the costs associated with establishing a new business in a foreign market.
Additionally, Disney could also consider joint ventures and acquisitions as modes of going global. Joint ventures would enable Disney to share the risks and rewards of entering a new market with a local partner, while acquisitions would provide Disney with complete control over a foreign business and allow for rapid expansion into new markets. Overall, a combination of licensing, franchising, joint ventures, and acquisitions would be the best mode for Walt Disney Company to go global.
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manufacturers and engineers must be aware of their external customers’ needs. external customer refers
Manufacturers and engineers must prioritize understanding and addressing the needs of their external customers.
External customers are individuals, organizations, or entities that purchase or utilize a product or service provided by a company. These customers may include end-users, distributors, retailers, or even other businesses. By being aware of their external customers' needs, manufacturers and engineers can design, develop, and deliver products that meet or exceed customer expectations.
This involves conducting market research, engaging in customer feedback and communication, and continuously adapting and improving products to ensure customer satisfaction. Understanding external customers' needs is crucial for successful product development, customer retention, and building strong and lasting relationships with customers.
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Manufacturers and engineers must be aware of their external customers’ needs. External customer refers to what?
If required reserves are expressed by RR, the required reserve rate by rD, and deposits by D, the simple deposit expansion multiplier is expressed as
The simple deposit expansion multiplier is:1/rDThis means that if the required reserve ratio is 10%, for example, then the deposit expansion multiplier is 1/0.10, or 10. This means that a $1 increase in reserves can lead to a $10 increase in the money supply.
The deposit expansion multiplier is a measure of the potential increase in the money supply resulting from a given increase in bank reserves. When banks receive additional reserves, they can lend out a multiple of that amount, which leads to a further increase in deposits and the money supply.The formula for the deposit expansion multiplier can be derived as follows:Let RR be the required reserves, rD be the required reserve ratio, and D be the deposits in the banking system.
Then,the total reserves held by banks are:Total Reserves = Required Reserves + Excess ReservesTotal Reserves = RR + ERwhere "ER" represents excess reserves, which are reserves held by banks above the required level.The deposit expansion multiplier can be calculated as the ratio of the change in deposits to the change in reserves:Change in Deposits / Change in ReservesSince the required reserves are a fixed fraction of deposits, we can express the change in required reserves as:
Change in Required Reserves = Change in Deposits x Required Reserve Rati Change in RR = Change in D x rDRearranging the formula, we get:Change in D = Change in RR / rDSubstituting the equation for "Change in RR" above, we get:Change in D = (RR + ER) - RR / rDSimplifying, we get:Change in D = ER / rD
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For a monopolist that does not price discriminate, economic profit is maximized in the short run at a price of $140. Marginal revenue at that output level is Group of answer choices equal to $140. greater than $140. less than $140. less than marginal cost. greater than average revenue.
A salesperson receives a base salary of $1,200 per month plus a commission of 6 percent on each sale. The following sales were made this month:
Sale 1 $6,500
Sale 2 $10,320
Sale 3 $700
Sale 4 $1,180
Sale 5 $29,000
Calculate this month's total carnings.
Answer:
$4062
Explanation:
base salary of $1,200
+ 6% of each sale
so $1,200 + $390 + $619.20 + $42 + $70.80 + $1,740
=$4062
This month's total earnings for the salesperson are $4,062.
To calculate the salesperson's total earnings for the month, we need to calculate the commission for each sale and then sum it up along with the base salary.
Base Salary = $1,200 per month
Commission = 6% on each sale
Let's calculate the commission for each sale:
Commission for Sale 1 = 6% of $6,500
= 0.06 * $6,500
= $390
Commission for Sale 2 = 6% of $10,320
= 0.06 * $10,320
= $619.20
Commission for Sale 3 = 6% of $700
= 0.06 * $700
= $42
Commission for Sale 4 = 6% of $1,180
= 0.06 * $1,180
= $70.80
Commission for Sale 5 = 6% of $29,000
= 0.06 * $29,000
= $1,740
Now, let's calculate the total commission earned:
Total Commission = $390 + $619.20 + $42 + $70.80 + $1,740
= $2,862
Finally, let's calculate the total earnings:
Total Earnings = Base Salary + Total Commission
= $1,200 + $2,862
= $4,062
Therefore, this month's total earnings for the salesperson are $4,062.
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Helpp
Tri-county Supply budgets 5% of the previous year's total revenue for utilities. The receipts from
the last year showed revenue of $4,500,000.00 How much will be budgeted for utilities for the
year?
Answer:
$225,000
Explanation:
The utility budget is 5% of the previous year's total revenue.
The previous year revenue was $4,500,000.00
The utility budget will be 5% of $4,500,000.00
=5/100 x $4,500,000.00
=0.05 x $4,500,000
=$225,000
What could happen when requesting an interview if a job applicant hadn't prepared a 30-
Second Commercial?
Builtrite common stock just paid a dividend of $2.50 and dividends are expected to grow at a 6% annual rate. If you require an 13% annual return, what do you believe is a fair price for Builtrite stock?
To calculate the fair price for Builtrite stock when a dividend is paid and dividend are expected to grow at a 6% annual rate and an investor requires a 13% annual return, we can use the dividend discount model.
The dividend discount model is calculated as follows: P = D₁ / (r - g) where = the fair price of the stockD₁ = the dividend paid at the end of the first year = the required rate of return = the expected dividend growth rate.
Substituting the given values, we have:P = $2.50 / (0.13 - 0.06)P = $2.50 / 0.07P = $35.71. Therefore, the fair price for Builtrite stock is $35.71.
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The calculation of the fair price for Builtrite stock can be obtained using the dividend discount model. A stock's value can be estimated using the dividend discount model (DDM), which calculates the value of a stock based on its future dividends.
The dividend discount model takes into account the present value of a stock's future dividend payouts, including any growth. Here, the calculation is as follows:Given data:Annual dividend = $2.50Growth rate = 6%Rate of return required by the investor = 13% Formula for calculating fair value:FV = D1/(r-g)Where,FV = fair valueD1 = dividend expected in the next year = $2.50 x (1 + 6%) = $2.65r = Required rate of return = 13%g = Growth rate of dividends = 6%Therefore, FV = $2.65/(13%-6%) = $44.17The fair price of Builtrite common stock is $44.17 per share.
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Connie thinks that her salary and tax rate for next year will be lower than for this year. What step should she take to minimize her taxes in the current year? Select one: a. Accelerate receipt of income. b. Delay deductions. c. Practice tax evasion. d. Accelerate deductions. e. None of these will allow her to minimize her taxes.
Answer:
d. Accelerate deductions
Explanation:
Tax acceleration is a way that a taxpayer is able to hasten tax deduction.
Taxi is paid in the year that it was incurred instead of in the subsequent year.
This way tax expense that will be paid from the current year is reduced and tax income will increase.
In the given scenario where Connie thinks that her salary and tax rate for next year will be lower than for this year, the best way to minimise her tax expense starting this year is by tax acceleration
What is the organizational structure for an supermarket?
Answer:
An array of repeat customers grouped in various local areas, A chain of retail stores, various transportation systems, A set of warehouse distribution centers, and An array of product suppliers under contract.
Explanation: In carrying out its function, a supermarket business acquires and assembles a wide assortment of goods from individual suppliers, then organizes and distributes them as-needed to a chain of retail stores for sale to local customers.
Click this link to visit the O*NET page for the Zoologists and Wildlife Biologists career. Scroll down to the Skills section. Note that common skills are listed toward the top, and less common skills are listed toward the bottom. According to O*NET, what are some common work skills for Zoologists and Wildlife Biologists? Check all that apply. active listening equipment maintenance installation science critical thinking
Answer:
1,4,5
Explanation:
just did it on e2020
There are some common work skills for Zoologists and Wildlife Biologists are:
Active listening Installation science Critical thinking. Thus, option (a), (c), and (d) is correct.What is Wildlife?
While humans and domesticated animals are not considered to be considered "wildlife," living things such as birds, animals, insects, and mammals are. Brew, lion, butterfly, etc. are a few examples. Grasslands, forests, deserts, wooded areas, and plains are where you can see wildlife most often.
Active listening, applied science, and critical thinking are common work abilities for Zoologists and Wildlife Biologists. The Zoologists are founded on the skills they learn in nature. There was the based on the skills are the developed in the nature are the Zoologists.
As a result, they are some common work skills for Zoologists and Wildlife Biologists. Therefore, option (a), (c), and (d) is correct.
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what document explains your rights and responsibilities as a federal student loan borrower?
The document that explains your rights and responsibilities as a federal student loan borrower is "Mastery Promissory Note (MPN)."
Mastery Promissory Note (MPN) is a document that contains the rights and responsibilities of an individual getting a federal student loan.
Generally, students are expected to sign this document after getting a federal student loan.
It serves as a legally binding agreement that the student will pay back their loan.
Hence, in this case, it is concluded that the document that explains your rights and responsibilities as a federal student loan borrower is "Mastery Promissory Note (MPN)."
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Communication response time must be faster than in the past to succeed in the modern workplace. please select the best answer from the choices provided t f
Based on current workplace trends, a faster communication time is needed to succeed so this is True.
What does the modern workplace require?The modern workplace is characterized by faster processes and the need to stay ahead of competitors.
As a result, it is required that communication response times should be faster in order to be successful.
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As of June 28, 2020, Cedar Fair had issued $201.5 million in season passes. Cedar Fair estimated that guests would use passes worth
$41.9 million during the remainder of 2020, $61.9 million from January 1 to June 30, 2021, and the remaining $97.7 million after June
30, 2021. What amounts should Cedar Fair classify as current versus noncurrent, in its balance sheet on June 28, 2020?
Based on Cedar Fair issuance of season passes,$103.80 million would be classified under current whereas $97.7 million is non-current
What does current classification indicates in the balance sheet?
The current classification in the balance sheet refers to assets that would be used up in up to a year or liabilities that would be settled within a year, any other item whose usage or settlement date is beyond 1 year is classified as non-current asset or liability.
In this case, Cedar Fair would classify the the amount of season passes usable within a year under the current liability and the remainder value of season passes that would be used after after June 30, 2021 as non-current liability.
current liability=$41.9 million+ $61.9 million=$103.80 million
non-current liability=$97.7 million
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Antitrust laws were created to give government the power to
Answer:
To protect consumers from predatory business practices and ensure fair competition.
Explanation:
thats it give me points pls
In Season 3 of this popular animated series, brilliant scientist Rick confesses that he travels to parallel worlds in search of Szechuan sauce, which was sold in McDonald’s back in 1998 as a part of the campaign based on Disney’s Mulan. The picture depicts the image of Rick in the drive thru at McDonalds. This marketing tactic is an example of _____________.
a. market buzz
b. Galbraith effect
c. product placement
d. subliminal marketing
inclusion of McDonald's Szechuan sauce in Season 3 of Rick and Morty is an example of product placement, a marketing technique used to subtly promote a product or brand to an audience through entertainment media. Therefore correct answer to this question is C. product placement.
Product placement is a marketing technique where products or brands are incorporated into entertainment media such as films, television shows, video games, and music videos. The goal of product placement is to increase brand awareness and ultimately drive sales by subtly promoting the product or brand to the audience without explicitly advertising it.In the case of the popular animated series, Rick and Morty, the inclusion of McDonald's Szechuan sauce in the show is a clear example of product placement. The scene featuring Rick in the drive-thru at McDonald's is a nod to the fast-food chain's 1998 promotional campaign based on Disney's Mulan, which featured the limited-time offering of the Szechuan sauce.By incorporating the Szechuan sauce into the show, McDonald's was able to capitalize on the popularity of Rick and Morty and the show's massive fan base, who eagerly awaited the sauce's return after the episode aired. The product placement generated significant buzz around the sauce, leading to a resurgence in demand for the product and ultimately resulting in McDonald's bringing back the sauce for a limited time.
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Seth owns a property on a small island with six other property owners. Recently, Seth built a fishing pier along the water’s edge; however, the pier is actually on his neighbor’s property, which Seth has no rights to. What might this be an example of?
Answer:
Encroachment.
Explanation:
Encroachment of land occurs when a person violates his neighbors property right through building a structure that extends beyond the boundary of his land and into another person's property.
However , this may be mutually agreed on by the two parties involved , and compensation given under a term called easement.
In a situation where the encroached property belongs to the government , this is referred to as structural encroachment and the government may destroy such structure without giving any compensation
Which of the following is an advantage of print publication as an advertising
medium?
A. Easy to focus on a target audience
B. Disappears from view in a matter of seconds
C. Is very expensive
D. Large volumes of viewers
Answer:
A
Explanation:
Answer:a
Explanation:
50 pts! I really need help on this. Ignore the distribution part. Dont waste my points ;-; Will give Brainliest
Market Analysis: Research three countries you would like to distribute your game to and summarize the games, their prices, and how they are distributed in those markets (your competition). If you find that you might have chosen a market that is already too competitive, this is the time to identify another country and change your plan.
Countries I chose:
Japan
United States
Great Britain (UK)
Answer:
Japan 183-192billon dollars per year
USA 18.4 billion dollars
UK 5.05billion dollars
A transaction will only happen if and only if the price is between:
The buyer’s value and the buyer’s outside option
The buyer’s value and the seller’s outside option
The buyer’s value and the seller’s cost of production
The buyer’s outside option and the seller’s outside option
The buyer’s outside option and the seller’s cost of production
A transaction will only happen if and only if the price is between the buyer's value and the seller's outside option.
Let's break down the options to understand why this is the correct answer:
- Option 1: The buyer's value and the buyer's outside option. This option doesn't make sense because the buyer's outside option is not directly related to the transaction. The buyer's outside option refers to an alternative choice the buyer has if the transaction doesn't occur, and it is not directly involved in determining the price of the transaction.
- Option 2: The buyer's value and the seller's outside option. This is the correct answer. The buyer's value represents the maximum amount the buyer is willing to pay for the item or service. The seller's outside option refers to an alternative choice the seller has if the transaction doesn't occur. For a transaction to happen, the price needs to fall between the buyer's value and the seller's outside option. This ensures that both the buyer and seller find the transaction mutually beneficial.
- Option 3: The buyer's value and the seller's cost of production. This option doesn't capture the buyer's perspective accurately. The buyer's value is the maximum price the buyer is willing to pay, whereas the seller's cost of production is the cost incurred by the seller to produce the item or service. The transaction price is determined by the buyer's value, not the seller's cost of production.
- Option 4: The buyer's outside option and the seller's outside option. The buyer's outside option is not directly involved in determining the price of the transaction. It refers to an alternative choice the buyer has if the transaction doesn't occur. The seller's outside option also refers to an alternative choice the seller has if the transaction doesn't occur. However, the price of the transaction is determined by the buyer's value and the seller's outside option, not the outside options of both parties.
- Option 5: The buyer's outside option and the seller's cost of production. The buyer's outside option is not directly involved in determining the price of the transaction. The seller's cost of production refers to the cost incurred by the seller to produce the item or service. The transaction price is determined by the buyer's value, not the seller's cost of production.
Therefore, the correct answer is: The transaction will only happen if and only if the price is between the buyer's value and the seller's outside option.
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1. Suppose that the Swiss franc appreciates from US$0.40 at the beginning of the year to US$0.44 at the end of the year. The US inflation rate is 5 percent and the Swiss inflation rate is 3 percent during the year.
2. Analyze the inflation rate observed in both the countries and find the percentage appreciation of the Swiss franc?
3. Analyze the situation in the country to find the dollar price of the Swiss franc be in one year?
4. Analyze the situation to find the real depreciation (-) or real appreciation of the Swiss franc during the year?
The Swiss franc appreciated by 10% against the US dollar over the year, with the US inflation rate at 5% and the Swiss inflation rate at 3%. The dollar price of the Swiss franc in one year would be US$0.44, indicating a real appreciation of 8% for the Swiss franc relative to the US dollar.
1. To analyze the inflation rate observed in both countries and find the percentage appreciation of the Swiss franc, we need to consider the nominal exchange rate and the inflation differentials between the two countries.
The nominal exchange rate at the beginning of the year is US$0.40 per Swiss franc, and it appreciates to US$0.44 at the end of the year. This means that the Swiss franc has strengthened against the US dollar.
The US inflation rate is 5 percent, while the Swiss inflation rate is 3 percent. The inflation differential between the two countries is 2 percent (5% - 3%).
This implies that the US dollar's purchasing power has decreased relative to the Swiss franc over the year.
2. To find the percentage appreciation of the Swiss franc, we can calculate the difference in the nominal exchange rates and express it as a percentage of the initial exchange rate.
Percentage appreciation = ((Final exchange rate - Initial exchange rate) / Initial exchange rate) * 100
Using the given values, the percentage appreciation of the Swiss franc can be calculated as follows:
Percentage appreciation = ((0.44 - 0.40) / 0.40) * 100 = 10 percent
Therefore, the Swiss franc appreciated by 10 percent against the US dollar during the year.
3. To find the dollar price of the Swiss franc in one year, we can multiply the initial exchange rate by the percentage appreciation of the Swiss franc.
Dollar price of the Swiss franc in one year = Initial exchange rate * (1 + Percentage appreciation)
Using the given values, the dollar price of the Swiss franc in one year can be calculated as follows:
Dollar price of the Swiss franc in one year = 0.40 * (1 + 0.10) = US$0.44
Therefore, the dollar price of the Swiss franc would be US$0.44 in one year.
4. To determine the real depreciation or real appreciation of the Swiss franc, we need to consider the inflation differentials between the two countries.
Real depreciation or appreciation measures the change in purchasing power of a currency relative to another currency after adjusting for inflation.
Since the inflation rate in the US is higher than in Switzerland (5% versus 3%), it means that the US dollar's purchasing power has eroded more than the Swiss franc's purchasing power.
This implies that the Swiss franc has experienced a real appreciation against the US dollar.
The real depreciation or appreciation of the Swiss franc can be calculated as follows:
Real depreciation/appreciation = Nominal depreciation/appreciation - Inflation differential
In this case, the nominal appreciation of the Swiss franc is 10% (as calculated in question 2), and the inflation differential is 2%.
Real depreciation/appreciation = 10% - 2% = 8%
Therefore, the real appreciation of the Swiss franc during the year is 8% against the US dollar.
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__________ is important for devloping self-reglation and promoting language. Varying rates. Motivation. Play. Secure relationships. Challenged. Screening tool. I will mark brainlest
Mechanistic organizations tend to have ___.
Mechanistic organizations tend to have codified operating procedures
Mechanistic organizations are characterized by a highly centralized structure with a clear hierarchy of authority. These organizations tend to be very formal, with well-defined roles and strict operating procedures. They tend to be highly efficient, as they rely on standardized processes and rules to guide the behavior of its employees.
A key feature of mechanistic organizations is their use of codified operating procedures. These procedures are written rules and guidelines that outline how tasks should be performed and how decisions should be made. They are designed to ensure consistency and predictability in the way work is carried out, and they may be used to train new employees or to provide guidance to existing employees when performing their duties.
Complete question
Mechanistic organizations tend to have ______.
fluid environments
codified operating procedures
decentralized decision making
flat organizational hierarchy
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Which macroeconomic goal do investments in human capital and capital goods contribute to? How?
A
Such investments contribute to the goal of price stability by increasing economic production.
B
Such investments contribute to the goal of economic growth by increasing government spending.
C
Such investments contribute to the goal of price stability by increasing consumer spending.
D
Such investments contribute to the goal of economic growth by increasing economic productivity.
A tax that takes a higher percentage of income from people with lower
incomes is a
A. progressive tax
B. deductive tax
C. dependent tax
D. regressive tax
A regressive tax is a tax that takes a higher percentage of income from people with lower incomes. Hence, option D is correct.
What is regressive tax?When the overall tax burden drops as income increases, the tax is said to be regressive. While middle- and high-income taxpayers suffer a proportionally smaller part of the tax burden, low-income taxpayers bear a disproportionately large share.
Every taxpayer, regardless of economic level, pays the same amount of money, a regressive tax may initially seem to be a fair method of taxing residents. A closer analysis reveals that such a tax results in lower-income persons paying a bigger percentage of their income than do wealthy ones.
Thus, option D is correct.
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The global environment of business affects all of the other elements such as the Social, Technological, and Economic environments because:
The global environment affects all of the other environmental influences such as the economic, legal, and social environments because: the increase in free trade among nations and technological changes have created globalization and increased competition.
How does the global environment differ from the outdoor environment?The global environment includes aspects of the environment that are globally determined, such as ozone depletion that can affect an individual's health.
The outdoor environment refers to environmental factors that can directly influence an individual's health, but are specific to that individual's location.
The negative effects of the destruction on the global environment shows that if forests are destroyed for making commercial area, the habitat of animals are also destroyed.
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Accounts receivable, net of the allowance for doubtful accounts is called:.
Accounts receivable, net of the allowance for doubtful accounts is called net realizable value.
What is net realizable value?Net realizable value is the method of knowing the value of asset that is held as inventory. The purpose of this method is to avoid overstating or understating the value of an goods in inventory.
The net realizable value is the result of deducting the costs incurred in selling the goods from its selling price.
Hence, accounts receivable, net of the allowance for doubtful accounts is called net realizable value.
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