Item2 0.75 points ebookprintreferencescheck my workcheck my work button is now enabled3item 2 evan, a single individual, operates a service business that earned $110,000 in 2020. the business has no tangible property and paid no w-2 wages. required: compute evan's qbi deduction, assuming his overall taxable income before qbi is $125,000. compute evan's qbi deduction, assuming his overall taxable income before qbi is $175,000.
Answers
Evan's qualified business income (QBI) deduction can be calculated as 20% of his QBI, subject to certain limitations. Since Evan's business has no tangible property and paid no W-2 wages, we can assume that his QBI is equal to his business's net income, which is $110,000.
If Evan's overall taxable income before QBI is $125,000, his QBI deduction would be $22,000 ($110,000 x 20%). This deduction would reduce his taxable income to $103,000 ($125,000 - $22,000).
If Evan's overall taxable income before QBI is $175,000, his QBI deduction would be subject to a wage and capital limitation.
Assuming Evan has no qualified property or W-2 wages, his QBI deduction would be limited to 50% of the W-2 wages paid by his business, which is $0. Therefore, his QBI deduction would be $0, and his taxable income would remain at $175,000.
In summary, Evan's QBI deduction is dependent on his overall taxable income before QBI and the type of business he operates. If his taxable income is below the wage and capital limitation, he can take a deduction of 20% of his QBI.
However, if his taxable income is above the limitation and his business has no qualified property or W-2 wages, his deduction is limited to 50% of the W-2 wages paid by his business.
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Related Questions
By using bootstrap marketing strategies (unconventional, low-cost, creative techniques) small companies can get as much "bang" for their marketing bucks as their larger rivals.
Answers
Answer:
The given statement relates to bootstrap marketing strategies
Explanation:
In simple words, Bootstrap marketing relates to an advertising strategy usually used by entrepreneurs to create a business from the bottom up with little but private money and, luckily, money from the very first sale.
This method is usually used by start ups for capturing initial market share and with the expertise of an angel investor they can really go for high goals.
all four areas of social responsibility for firms (economic, legal, ethical, and discretionary) are of equal importance in a firm's overall level of social responsibility.
Answers
A company's overall level of social responsibility depends on all four dimensions of corporate social responsibility: economic, legal, ethical, and discretionary. This statement is true.
Corporate social responsibility, or CSR, is a business strategy that takes into account how an organization affects society, its workforce, and other stakeholders. CSR is used to reduce harm, conduct ethical business, be accountable along the entire global supply chain, engage in philanthropy, and develop a self-directed human resource management system.
Throughout the 1950s and 1960s, social activist organizations (as well as others) promoted corporate social responsibility. The message to be socially and environmentally conscious, however, didn't become crystal evident until the 1970s.
Carroll's methodology establishes consistency in an area lacking a precise, predetermined definition. However, since this model was created in 1991, it is no longer relevant in the current corporate climate.
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Correct question:
All four areas of social responsibility for companies (economic, legal, ethical, and discretionary) are equally important to a company's overall level of social responsibility. True or false.
Which method assigns probabilities based on the assumption of equally likely outcomes?
Answers
Classical Approach determining probability with the assumption that all possible outcomes are equally likely.
What kinds of results are there?Organizational, team, and individual outcomes are the three different categories of results.
What characteristics define a successful outcome?Think carefully exactly what you can actually achieve given the groups your want to target and the range of your resources. Good outcome goals are clear, measurable, and practical. Develop the following results: • Your outcomes should specify what you hope will occur once your action is finished.
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A new manufacturing technology makes it easier to make the
product and causes a shift in the supply curve. What is the new
equilibrium point after implementing the new technology? (Hint:
Determine which direction a easier production shifts the supply
curve and use that direction to pick the resulting equilibrium
point.)
O $6 and 20,000
O $4 and 30,000
O $6 and 30,000
O $4 and 20,000
Answers
you are an administrative assistant in the purchasing department. Another administrative assistant is getting married in three weeks. Rumor has it that after the wedding, she will not be returning, and two of your peers have come to you asking if it is true because they want to apply for her job. you have not seen an official announcement, however, the assistant did tell you that she plans not to come back. What should you say to your two coworkers?
Answers
In this situation, You should tell your coworkers that you are unsure and that it is not yet official announced.
Co - workers.
Co workers refers a person with whom one works, typically someone in a similar role or at a similar level within an organization.
Given,
Here we have given that, you are an administrative assistant in the purchasing department. And another administrative assistant is getting married in three weeks. There is a rumor has it that after the wedding, she will not be returning, and two of your peers have come to you asking if it is true because they want to apply for her job. Now, you have not seen an official announcement, however, the assistant did tell you that she plans not to come back.
Here we need to find how you should handle this situation.
While we looking into the given question, we have identified the following,
There are 2 administrative assistant in your company.
One is you and another one is a girl and she get married in three weeks. And she also planned to resign after her marriage but this resignation is not officially confirmed.
So, in this situation, two of your peer interested for the position and asking you about the recruitment process.
Here you have to reply the co workers that the resignation is not conformed and if it is officially announced they you have the option to apply for that position.
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Mann, Inc., which owes Doran Co. $600,000 in notes payable with accrued interest of $54,000, is in financial difficulty. To settle the debt, Doran agrees to accept from Mann equipment with a fair value of $570,000, an original cost of $840,000, and accumulated depreciation of $195,000. Compute the gain or loss to Mann on the extinguishment of the debt. a. Loss on extinguishment of debt is $75,000b. Gain on extinguishment of debt is $75,000c. Gain on extinguishment of debt is $84,000d. Loss on extinguishment of debt is $84,000
Answers
The correct answer is d. Loss on extinguishment of debt is $84,000. Loss on debt settlement is the amount by which the carrying amount of a debt exceeds the fair value of the consideration given to settle the debt.
To calculate the gain or loss on extinguishment of debt, we need to compare the fair value of the equipment given to Doran Co. with the carrying amount of the debt owed.
The carrying amount of the debt owed by Mann, Inc. is the principal amount of $600,000 plus the accrued interest of $54,000, which equals $654,000.
The fair value of the equipment given to Doran Co. is $570,000.
To determine the carrying amount of the equipment, we need to subtract the accumulated depreciation of $195,000 from the original cost of $840,000, which equals $645,000.
Since the fair value of the equipment is less than the carrying amount of the debt owed, Mann, Inc. has incurred a loss on the extinguishment of the debt. The loss is calculated as the difference between the carrying amount of the debt owed and the fair value of the equipment given, which is $654,000 - $570,000 = $84,000.
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For your project, you will be doing a Competitor Marketing Analysis Report on the:
Question 3 options:
All companies in the chosen industry
A company you created
An existing company known as the Chief Industry Competitor
Any company
Answers
The impact of Furman v. Georgia (1972) was that states had to
promise to use the death penalty only with approval from the Supreme Court.
throw out the old Miranda warning and write a new one.
agree to throw out all state laws regarding crime and impose national standards.
create clear standards to be applied fairly before imposing the death penalty.
Answers
Answer: D.create clear standards to be applied fairly before imposing the death penalty.
Explanation: The answer it's right there
The impact of Furman v. Georgia (1972) was that states had to
create clear standards to be applied fairly before imposing the death penalty.The Furman v. Georgia caseThis was a case that had to do with the cruel and the unusual way that people faced in the death penalty.
The case ruled that the death penalty was unconstitutional if it was applied in a discriminatory way.
It ruled that the eight amendment was being violated if used in this way.
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Compute the approximate percentage difference in estimated salary between the utility and transportation industries, holding sales and roe fixed. Is the difference statistically significant at the 1% level?
Answers
To compute the approximate percentage difference in estimated salary between the utility and transportation industries, holding sales and roe fixed, we would need data on the salaries in both industries. Once we have the data, we can calculate the percentage difference and determine if it is statistically significant at the 1% level using statistical tests such as a t-test or ANOVA.
Without the actual data, it is difficult to provide a specific answer to this question. However, in general, if the percentage difference is large and statistically significant at the 1% level, it suggests that there are significant salary differences between the two industries that cannot be explained by differences in sales or roe.
It is important to note that other factors may also influence salary differences between industries, such as education, experience, and location. These factors should be taken into account when comparing salaries between industries.
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To compute the approximate percentage difference in estimated salary between the utility and transportation industries, holding sales and roe fixed, we would need data on the salaries in both industries. Once we have the data, we can calculate the percentage difference and determine if it is statistically significant at the 1% level using statistical tests such as a t-test or ANOVA.
Without the actual data, it is difficult to provide a specific answer to this question. However, in general, if the percentage difference is large and statistically significant at the 1% level, it suggests that there are significant salary differences between the two industries that cannot be explained by differences in sales or roe.
It is important to note that other factors may also influence salary differences between industries, such as education, experience, and location. These factors should be taken into account when comparing salaries between industries.
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What is the world's largest free trade area?
Answers
Answer: free market
Explanation:
The free market is where all the stocks are shared, The answer is free market!
Answer:
The world's largest free trade area, encompassing 54 countries and 1.2 billion people, the African Continental Free Trade Area will bring the promise of trade-led economic growth closer to reality for Africa's entrepreneurs, industrialists, investors, innovators and service suppliers.
sorry if it wrong
Question 14 of 20 Cassie has a line of vanilla-scented body lotion. She has recently decided to add vanilla-scented body scrub and vanilla-scented soap to the line as well. What is this an example of? O A. Line extension O B. Promoting O C. Spinning off a product D. Family branding SUBMIT
Answers
She is not doing it to promote her vanilla brand products specifically. Existing customers who buy her vanilla lotion might consider her other vanilla products.
A spin-off could be... instead of vanilla... French vanilla scent. Or strawberry vanilla scented products.
What are four ethical character traits
Answers
Answer:
honesty, justice, compassion, and integrity.
Explanation:
HELP PLZ NO DOWNLOADS OR LINKS IT WILL BE REPORTED AND ANY UNHELPFUL ANSWERS
Answers
far left = top left
middle left = top right
left middle = bottom right
far left = bottom left
10.3 The following transactions are to be entered up in the ledger for June. Balance off all accounts and extract a trial balance as at 30 June 2018. 2018 June 1 June 2 June 3 June 4 June 5 June 7 June 9 June 11 June 13 June 15 June 19 June 20 June 21 June 23 June 25 June 26 June 27 June 28 June 29 June 30 Started business with $6,000 in the bank and $500 cash in hand. Bought $2,500 goods on credit from C. Jones. Credit sales: H, Henry, $660; N. Neita, $250, P Pitter, $43. Goods bought for cash, $230. Bought motor van paying by cheque, $2,560. Paid motor expenses by cheque, $72. Credit sales: B. Barnes, $240; K. Lyn, $260; M. Moore, $650 Goods bought on credit: C. Jones, $240, N. Moss, $62; O. Hue, $460. Goods returned by us to C. Jones, $25. Paid motor expenses by cash, $50. Goods returned to us by N. Neita, $110. Cash taken for own use [drawings), $100. Paid the following by cheque: N. Moss, $62; 0. Hue, $460. H. Henry paid us in cash, $660. P Pitter paid us by cheque, $43. Cash sales, $340. Cash taken for own use, $124. Goods returned by us to C. Jones, $42. Paid for postage stamps by cash, $24. Credit sales: N. Nieta, $143; M. Edgar, $67; K. Lyn, $245.
Answers
Answer:
Explanation:
June 1:
Bank Account: +$6,000
Cash Account: +$500
Capital Account: +$6,500
June 2:
Purchases Account: +$2,500
Accounts Payable (C. Jones): +$2,500
June 3:
Accounts Receivable (H. Henry): +$660
Sales Account: +$660
June 4:
Accounts Receivable (N. Neita): +$250
Sales Account: +$250
June 5:
Accounts Receivable (P. Pitter): +$43
Sales Account: +$43
June 7:
Cash Account: -$230
Purchases Account: +$230
June 9:
Motor Van: +$2,560
Bank Account: -$2,560
June 11:
Motor Expenses Account: +$72
Bank Account: -$72
June 13:
Accounts Receivable (B. Barnes): +$240
Sales Account: +$240
June 13:
Accounts Receivable (K. Lyn): +$260
Sales Account: +$260
June 13:
Accounts Receivable (M. Moore): +$650
Sales Account: +$650
June 15:
Purchases Account: +$240
Accounts Payable (C. Jones): +$240
June 15:
Purchases Account: +$62
Accounts Payable (N. Moss): +$62
June 15:
Purchases Account: +$460
Accounts Payable (O. Hue): +$460
June 17:
Purchases Returns and Allowances Account: +$25
Accounts Payable (C. Jones): -$25
June 19:
Motor Expenses Account: -$50
Cash Account: -$50
June 20:
Accounts Receivable (N. Neita): -$110
Sales Returns and Allowances Account: +$110
June 20:
Drawings Account: -$100
Cash Account: -$100
June 21:
Accounts Payable (N. Moss): -$62
Cash Account: -$62
June 21:
Accounts Payable (O. Hue): -$460
Cash Account: -$460
June 23:
Cash Account: +$660
Accounts Receivable (H. Henry): -$660
June 23:
Cash Account: +$43
Accounts Receivable (P. Pitter): -$43
June 25:
Cash Account: +$340
Sales Account: +$340
June 25:
Drawings Account: -$124
Cash Account: -$124
June 26:
Purchases Returns and Allowances Account: +$42
Accounts Payable (C. Jones): -$42
June 27:
Postage Stamps Account: +$24
A company can be defined as a group of persons associated together for the purpose of attaining a common objective, be it social or economic. A company is considered to be a legal entity separate from its owners. There is a veil/shield/curtain that separate s the company from its owners. However, at there are incidences when tis veil is lifted by either the court or status. Using three real and relevant examples from Kenya, illustrate incidences when a company veil was lifted. (15Marks)
Answers
In the case of Salomon v A Salomon & Co Ltd [1897], a landmark case in company law, the House of Lords in the UK held that a company is a separate legal entity from its shareholders, and that the veil of incorporation can only be lifted in exceptional circumstances.
However, in the Kenyan case of Charles Wanguhu Kamau v Equity Bank Limited [2018], the court held that the corporate veil could be lifted in situations where a company is being used as a façade for fraudulent or illegal activities. In this case, the plaintiff had been defrauded by an employee of Equity Bank who had used false documents to obtain a loan. The court held that Equity Bank was liable for the employee's actions because it had failed to exercise proper oversight and control over its operations.
In another case, the High Court of Kenya lifted the corporate veil in the case of Onguto Nyarangi & Co Advocates v Gikandi Ngibuini & Co Advocates [2014]. In this case, the court held that the directors of Gikandi Ngibuini & Co Advocates had used their position to fraudulently transfer funds from the firm's client account to their personal accounts. The court found that the directors had breached their fiduciary duties to the company and had acted in concert to perpetrate the fraud. As a result, the court lifted the corporate veil and held the directors personally liable for the loss suffered by the firm's clients.
In a recent case, the Kenyan Revenue Authority (KRA) successfully applied to have the corporate veil lifted in order to recover tax debts owed by a group of companies. In the case of Kenya Revenue Authority v Keroche Industries Ltd & Others [2019], the court found that the companies had been engaging in tax evasion by under-declaring their production and sales. The court held that the corporate veil could be lifted in order to hold the directors personally liable for the tax debts owed by the companies. The court ordered the directors to pay the full amount owed to the KRA, plus interest and penalties.
These are just a few examples of when the corporate veil has been lifted in Kenya. Each case is unique, and the circumstances surrounding each case will determine whether or not the court is likely to lift the veil.
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If a seller receives a third-party expert report verifying that a condition does NOT exist when the seller knows that it does exist, what should the seller do?
Give the report to the buyer and not disclose the condition
Disclose the condition to the buyer
Disclose the known condition and give the report to the buyer
Not give the report or disclose the condition to the buyer
Answers
When a seller receives a third-party expert report verifying that a condition does not exist when the seller knows that it does exist, the seller should disclose the known condition and give the report to the buyer.
In other words, the seller should be honest with the buyer and reveal the known condition.The rationale behind this answer is based on ethical considerations and the principles of business. For instance, sellers are required to act in good faith and exercise reasonable care when dealing with buyers.
Additionally, buyers have the right to know the conditions of the product or service they are purchasing to make informed decisions.Therefore, a seller who receives a third-party expert report verifying that a condition does not exist when the seller knows that it does exist should disclose the known condition to the buyer and provide the report to the buyer. This approach ensures that the buyer makes an informed decision about the product or service, and it promotes honesty and ethical business practices.
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Promotional discounts are given to stores by manufacturers to place their products in preferred locations in the store and to display their products in a ski manufacturer sells a local ski shop 35 pairs of their new store window: skis for $7000, which is a discount of $2,625. What is the percentage of the discount given to the store? (Round your answer to the nearest whole percent.)
Answers
Answer:
27%
Explanation:
The ski was sold for $7,000 which has a discount of $2,625.
the price before discount is
= $7,000 + $2,625.
=$9,625
the discount as a percentage
=$2,625 / $9,625 x 100
=0.272727 x 100
=27.27%
=27%
What is one financial opportunity you could enjoy if you didn’t have to worry about making a monthly student loan payment?.
Answers
The financial opportunity that students can enjoy if they didn’t have to worry about making a monthly student loan payment would be to buy crypto like BTC and ETH.
What is a Financial Opportunity?This refers to the chance that a person gets in order to invest money to increase his financial portfolio.
Hence, it is worthy to note that because student loan payments are so high and have to be paid monthly, this makes most people be broke or low on money, and without this hassle, they would have invested in crypto, stocks, or any other financial stock.
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Which of the following influences the consumer when he or she is deciding wether to buy a product?
A. The stock market
B. Opinion factors
C. External factors
D. Multiple factors
Answers
Answer:
D.
Explanation:
The factors that infuence a consumer's decision of buying product are multiple. It can be internal, external, economic, cultural, etc.
These factors include psychological factor, social factor, cultural factor, situational factor, etc.
Many times it's psychological factors such as moods. If a person is in bad or good mood, it will affect his behavior to buy a product. Culture or social life also influences consumer's buying habit. Some buy under peer pressure or to have status in society.
Therefore, option D is correct.
Answer: External factors
Explanation:
An informal laundering system known as _______ is similar to the modern practice of ""wiring money"" and was primarily used in south asia prior to the introduction of western banking.
Answers
An informal laundering system known as smurfing is similar to the modern practice of ""wiring money"" and was primarily used in south Asia prior to the introduction of western banking.
A Smurf is a money launderer who seeks to steer clear of scrutiny from government groups by breaking apart a transaction related to a big amount of cash into smaller transactions below the reporting threshold if you want to no longer be detected. similarly studying: Prevention of cash Laundering Act. Indian Polity Notes For united states.
Smurfing is a money-laundering approach regarding the structuring of massive amounts of coins into a couple of small transactions. Smurfs often unfold those small transactions over many distinct money owed, to maintain them under regulatory reporting limits and avoid detection.
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The governance mechanism MOST closely connected with deterring unethical behaviors by holding top management accountable for the corporate culture is:
Answers
When top management need to be held accountable for unethical behavior, the best way is to use a Board of Directors.
What does a Board of Directors do?
These are the representatives of the shareholders in the leadership of the company.
They are the highest authority in the company and the policies they implement are meant to hold top management accountable for unethical behavior that might threaten the shareholders.
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To become a citizen of the United States, you must
Question 18 options:
A)
be at least 21 years old.
B)
file a request form in a federal court.
C)
have lived in the United States for at least six months.
D)
pass an English and government test.
Answers
Answer:
A at least be at twenty one (21)
in the base year, what can we say about real gdp and nominal gdp?
Answers
In the base year, we can say that nominal GDP and real GDP are equal, but in subsequent years, real GDP provides a better measure of economic performance by adjusting for inflation.
In the base year, the inflation rate is zero, which means that the nominal GDP and real GDP are equal. This is because the prices of goods and services in the base year are used to calculate both nominal and real GDP. Therefore, in the base year, we can say that nominal GDP and real GDP are equal.
However, in subsequent years, as prices change, there will be a difference between nominal GDP and real GDP. This difference is due to inflation, which causes the prices of goods and services to increase over time.
As a result, nominal GDP will tend to overstate economic growth, while real GDP will provide a more accurate measure of economic performance by adjusting for inflation.
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Eliza Conner owns a small clothing boutique. Eliza uses her personal checking account for both business and personal needs. How would you convince Eliza that she should open a separate
bank account for her business?
Answers
Answer:
1. It will cause them confusion throughout the tax calculating process.
2. Using a single account will make it difficult to keep payroll records.
3. Keep track of your personal expenses and earnings.
Explanation:
1. It is preferable to establish a separate account to separate the firm's actual income and expenses.
2. Payroll expenses are indistinguishable from personal expenses.
3. This allows you to cross-check bank and hand-made documents for income and expenses. Because cash transactions may not be recorded in the bank account, the entrepreneur should preserve receipts in order to compute revenue and expenses, which may result in erroneous financial statements.
What is added to the price of goods and services at the time of purchase?
Answers
Answer:
VAT
Value Added Tax
______________'_''
After a successful cyberattack on its information systems, a toy manufacturer is unable to operate effectively for two weeks, and thus misses out on some significant customer orders during this time owing to a. legal obligations b. reputation damage c. recovery costs d. business disruption
Answers
The toy manufacturer missing out on significant customer orders due to the cyberattack can be attributed to several factors:
a. Legal obligations: Depending on the jurisdiction and the nature of the business, the toy manufacturer might have legal obligations to protect customer data or face penalties for not adequately safeguarding sensitive information. In the event of a cyberattack, the company might need to comply with legal requirements, which could result in disruption and potential loss of business.
b. Reputation damage: A successful cyberattack can severely damage the toy manufacturer's reputation. News of the breach, compromised customer data, or service disruption can erode customer trust and confidence in the company. As a result, customers may choose to take their business elsewhere, leading to missed customer orders and potential long-term impacts on revenue.
c. Recovery costs: After a cyberattack, the toy manufacturer would incur costs associated with remediation efforts. This includes conducting forensic investigations, restoring systems, implementing stronger security measures, and possibly hiring external cybersecurity experts. These recovery costs can divert financial resources that could have been invested in meeting customer orders or marketing efforts.
d. Business disruption: The cyberattack likely disrupted the toy manufacturer's operations, rendering them unable to operate effectively for two weeks. During this time, the company might have experienced system downtime, communication issues, or other operational challenges. Such disruptions would hamper the ability to fulfill customer orders and meet demand, resulting in missed opportunities and potential customer dissatisfaction.It's important to note that these factors are not mutually exclusive, and multiple aspects can contribute to the toy manufacturer's inability to operate effectively and missing out on customer orders after a cyberattack.
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What is the first step that he should follow in order to show only the records for items that were sold for more than $1.99?
He should select the Price Paid field and right-click on it, then choose Number Filters.
He should go to the Design tab, click on Group and Sort, then click the Price Paid field.
He should go to the Arrange tab, click on Group and Sort, then choose Number Filters.
He should select the Price Paid field and highlight it, then click on the Filter tab.
Answers
A customer purchases stock for $40 per share and holds it for 1 year, selling it for $50 per share exactly 12 months after the date of purchase. Four quarterly qualifying dividends of $.50 were paid during the year. If the customer's tax bracket is 30%, what is the after-tax rate of return?
Answers
Answer:
24.75%
Explanation:
the customer will be taxed in two different rates:
long term capital gains = $50 - $40 = $10 per stock x (1 - 15%) = $8.50
interests are taxed as normal income = (4 x $0.50) x (1 - 30%) = $1.40
total after tax gains = $9.90
after tax rate of return = $9.90 / $40 = 0.2475 = 24.75%
There are many similarities and differences between Platonic and Aristotelian metaphysics. Select the statement about metaphysics with which only Aristotle would agree.
Answers
Answer:
"Option b" would be the right choice.
Explanation:
Throughout the given question, options are not given. Please find attachment of the rest of the options.
Besides Plato, it would've been necessary for research and theory, as well as logic, should "demonstrate" a notion or determine a material's characteristics, whereas Aristotle often favors scientific understanding but rather an observation. Plato claimed in two different perspectives, primarily the real world as well as the globe of shapes, although for Aristotle, the human mind is just once philosophy.Plato seems to be a moral relativist, either the unquantifiable consciousness, as well as the brain, generates exist because it is the individual that recognizes humanoid form.Other decisions aren't linked to the information stated. So that the response above is appropriate.
A country may actually make itself better off by levying a tariff if:________
Answers
A country may actually make itself better off by levying a tariff under certain conditions. One such condition is when a domestic industry is facing intense foreign competition and is struggling to compete.
By imposing a tariff on imported goods, the domestic industry can increase its prices and remain competitive. This may also result in the domestic industry expanding and creating new jobs, which can boost the economy.
Additionally, tariffs can also be used as a negotiating tool in trade agreements. By threatening to impose tariffs, a country can negotiate better trade terms with its trading partners, leading to more favorable terms for domestic producers and potentially boosting the economy.
However, it's important to note that tariffs can also have negative effects on the economy. They can increase the prices of imported goods, which can hurt consumers and lead to inflation. Tariffs can also lead to retaliation by trading partners, resulting in a trade war that can harm both domestic and foreign economies.
Therefore, while tariffs may be useful in certain situations, they should be implemented with caution and with a careful consideration of the potential costs and benefits.
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