A - Fiat money are objects that are because the law decrees or orders them to be Money.
A form of government-issued money known as "fiat money" is backed by the government itself rather than a tangible asset like gold or silver. Instead of the value of a commodity that serves as its backing, the value of fiat money is determined by the relationship between supply and demand and the stability of the government that issues it. The U.S. dollar, the euro, and other major global currencies are examples of modern fiat currencies.
Fiat money is a government-issued currency that is not backed by a commodity such as gold.
Fiat money gives central banks greater control over the economy because they can control how much money is printed.
Most modern paper currencies, such as the U.S. dollar, are fiat currencies.
One danger of fiat money is that governments can print too much of it, resulting in hyperinflation.
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Are advanced receipts from customers treated as revenue at the time of receipt? Why or why not? No, the amount of revenue cannot be adequately determined until the company completes the work.Yes, the intent of the company is to perform the work and the customer is confident that the services will be completed. Yes, they are treated as revenue at the time of receipt because the company has access to the cash. No, revenue cannot be recognized until the work is performed.
Advanced receipts from customers are treated as revenue at the time of receipt as they are treated as revenue at the time of receipt because the company has access to the cash.Yes. Option C.
What are Advanced receipts?Generally, When we talk about "Advance Receipts," we're referring to any and all payments made to the Seller on or before the Transfer Date in exchange for products or services that are going to be provided by the Business in accordance with any Seller's Contract that takes place after the Transfer Date.
In the screen titled "Company GST Details," if the turnover of your company is more than or equal to Rs 1.5 crores, you will need to change the setting for the option "Enable tax liability on advance receipts" to "Yes" in order to compute tax liability on advance receipts. Returns on forms GSTR-1 and GSTR-3B will be required to reflect the obligation.
Because the business already has access to cash, any receipts made in advance from consumers are counted as revenue as soon as they are received. This is done for the same reason that other receipts are included as revenue as soon as they are received. Alternative C
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g true or false: the marginal utility to consumers of coffee will be higher the greater is the available supply of coffee to consumers.
The given statement is true because when the marginal utility to consumers of coffee will be higher then the available supply of coffee to consumers will also be greater.
In economics, marginal utility refers to the additional satisfaction or benefit that a consumer derives from buying an additional unit of goods or service. It implies that marginal utility is the change in total utility that a customer experiences when one more unit of a good or product is consumed.
When the marginal utility of an item is high, its price gets low and ultimately its supply to consumers becomes higher. Therefore, the given statement is true.
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the foundation of a profit plan is the a. capital budget. b. sales forecast. c. cost and expense budget. d. production plan.
The foundation of a profit plan is the sales forecast. The correct option is B.
The sales forecast is the foundation of a profit plan and refers to an expression of expected sales revenue. It estimates that how much the firm plan to sell in a particular duration of time.
The sales forecast is play main role in the business or accounts. It estimates the firm's products price and revenue accurately if the product is to sell for short-term or long-term.
The profit plan is created for the growth of the business and increasing the chance of trusted company which helps in the sales. That's why, the profit plan is the sales forecast.
To calculate the sales forecast:
sales forecast = amount of customers * average value of customers purchases.
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true or false? individuals spend almost a month online researching alternative hospital sites for information before booking an appointment.
False. Individuals typically spend about two weeks researching alternative hospital sites for information before booking an appointment.
This is based on research by the Pew Research Center, which found that most people spend an average of two weeks researching hospitals before they make an appointment.
This research can include scanning through websites, reading reviews and ratings, and talking to family and friends. The research also found that most people make their decision based on factors such as cost, quality of care, and convenience.
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examples of product ingredients of the marketing mix include design of the product and trade names, packaging, and warranties.
In accordance to all the elements of the marketing mix strategy, the company identified the product, priced it correctly, did tremendous promotions and availed it to the consumer.
What is marketing mix strategy?
As a component of an all-encompassing marketing strategy, a marketing mix encompasses many areas of emphasis. The phrase frequently alludes to the categorization known as the four Ps, which originally stood for product, pricing, placement, and promotion.
Instead than focusing just on one message, effective marketing touches on a variety of topics. This makes it easier to connect with more people, and by remembering the four Ps, marketing professionals are better able to keep their attention on the things that truly important. When releasing new goods or updating current ones, firms may make more strategic decisions by concentrating on the marketing mix.
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when aggregate expenditure is more than gdp, which of the following is true? a. there was an unplanned decrease in inventories. b. firms spent less on capital goods than they planned. c. households bought fewer new homes than they planned. d. all of the above must be true when aggregate expenditure is more than gdp.
D. All of the Above, as every aspect of the given options apply to the statement.
There is a rise in inventories when total spending is less than GDP, right?If total spending is less than real GDP, then less goods and services will be purchased than are now being created. Inventory will build up because not all products and services will be sold. Real GDP declines as a result of producers cutting back on production while stockpiles increase.
What will happen if total spending is more than total output?A firm must pay more for its components of production, including extra to its employees, and must incur higher variable costs while using current facilities for longer periods of time to expand production if total expenditures exceed the economy's potential output.
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A good is characterized by network economies if it:
can be used by more than one person at a time.
becomes cheaper to produce as more people buy it.
becomes more valuable as more people own it.
is widely advertised on television.
A good is characterized by network economies if it: becomes more valuable as more people own it. The new economic system within the information age is known as the network economy.
Business economics that profit from the network effect are referred to as network economics. This occurs when more people purchase the same commodity or service, increasing its value. Examples include websites like iVillage or eBay where users can interact and offer ideas to improve the website's ability to conduct business. Network economics in sustainability refers to a group of experts (architects, designers, or associated enterprises) cooperating to create sustainable goods and technologies. New sustainable items can be produced more easily and affordably as more businesses engage in environmentally responsible production. For instance, designing a sustainable home with specialized materials and technology is challenging and expensive if no one manufactures sustainable things.
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universal sports supply began the year with an accounts receivable balance of $130,000 and a year-end balance of $150,000. credit sales of $555,000 generate a gross profit of $185,000. calculate the receivables turnover ratio for the year. (round your final answer to 1 decimal place.)
Receivables Turnover Ratio is 3.96 . Hence the final answer is 3.96.
Receivables Turnover Ratio = Credit Sales/Average Accounts Receivable
Average Accounts Receivable = (Beginning Accounts Receivable + Ending Accounts Receivable)/2
Average Accounts Receivable = ($130,000 + $150,000)/2 = $140,000
Receivables Turnover Ratio = $555,000/$140,000 = 3.96
Receivables Turnover Ratio = 3.96 (to 1 decimal place)
Accounts Receivable Turnover ratio indicates how many times the accounts receivables have been collected during an accounting period. It can be used to determine if a company is having difficulties collecting sales made on credit. The higher the turnover, the faster the business is collecting its receivables.
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niles has bipolar disorder for which he takes medication daily. recently he applied for a new job. the owner of the company almost offered him the job, but then found out about niles condition. if you were advising the owner of the company, what would you say?
I would say the symptoms of most mental disorders are present only rarely and do not always impact an individual's life. Niles' condition should have no bearing on whether he gets the job or not, especially if he is seeking treatment.
A mental disorder is characterised via a clinically sizable disturbance in an individual's cognition, emotional law, or behavior. it is also related to misery or impairment in critical areas of functioning. there are numerous distinct styles of mental disorders.
Intellectual illness, also called intellectual health issues, refers to a extensive variety of intellectual health conditions — issues that affect your mood, questioning and conduct. Examples of mental illness consist of depression, tension issues, schizophrenia, eating issues and addictive behaviors.
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ch 2 kb. which option includes the three manufacturing costs? group of answer choices wages, supervisor salaries and depreciation bottles, sales expenses, hourly wages ingredients, hourly wages, and utilities rent, salaries, sprinkles on cookies
Direct materials, direct labour, and manufacturing overhead are all included in the cost of creating the product. So, the answer is option b) Ingredients, Hourly wages and utilities.
What is Manufacturing cost?The manufacturing cost is the total cost of any and all resources utilised to make a good. The three categories of manufacturing expenses are direct costs of materials, direct costs, and manufacturing overhead. It has an impact on delivery costs as a whole.
Production costs are the costs a company incurs while creating a product or providing a service that generates revenue for the company.Various expenditures, including labour, raw materials, consumable production supplies, and general overhead, might be included in production costs.
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although accounting has several specific uses, the overall purpose of accounting can be summarized as
Although accounting has many different applications, its main objective can be summed up as giving decision-makers access to financial information.
Define accounting.Accounting, often known as accountancy, is the measurement, processing, and communication of financial and non-financial information about economic entities like businesses and corporations.
Managerial accounting, financial accounting, and cost accounting are the three types of accounting that a business could use to monitor its revenue.
Accounting is the process of acquiring, examining, and publishing financial and other data on enterprises and companies. It is commonly referred to as just "accounting."
Data about a person's or organization's financial transactions is referred to as financial information.
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the expansion of commercial bank lending select an answer and submit. for keyboard navigation, use the up/down arrow keys to select an answer. a changes the composition, but not the size, of the money supply. b is desirable during a period of demand-pull inflation. c reduces the money supply. d increases the money supply.
The expansion of commercial bank lending D) increases the money supply.
What is a commercial bank?
A commercial bank is a type of financial organization that offers clients services including loans, certificates of deposits, savings accounts, overdraft protection, etc. These organizations generate revenue by making loans to people and collecting interest on those debts.
It is a financial institution that accepts public deposits and disburses loans for consumer spending and business profits.
The expansion of commercial bank lending D) increases the money supply.
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which of these terms refers to a social group that may be joined together by factors such as shared history, shared identity, shared geography, or shared culture?group of answer choicesnationalitycommunityworldviewethnicityrace
refers to a social community that may be connected by things like shared territory, shared history, shared identity, or shared culture.
What is meant when a group of people is said to have a common ancestor?Pay close attention to the sound. (ETH-nik groop) A group of individuals who are connected by a common attribute that is frequently passed down from one generation to the next, such as a shared language, religion, ancestry, culture (beliefs, values, and behaviours). Depending on where they live, they may live next door to one another or hail from the same country.
a collection of people who share a common language, religion, ancestry, culture (beliefs, values, and behaviours), or some other characteristic
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an outline can help you organize your message by making sure that all of your main points are well developed.
It holds completely appropriate and factually correct to mention that messages can be organized by an outline, as it makes sure that all the main points on the messages have been well-developed. Therefore, the statement given above holds true.
An outline can be referred to or considered as the literary tool that helps in sequential organization of the composition in such a manner that the work of the author becomes more presentable and appealing to be read. It is generally in relation to the draft of the composition, before the final composition is actually finalized by the author.
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true or false; crew resource management (crm) is a fire service management process based upon a model used by the insurance industry
True a fire service management process based upon a model used by the insurance industry.
What is a fire service management?
The primary areas of focus for fire service management are fire safety, technology, and the function of rescue and fire departments in emergency and catastrophe circumstances. You may get this concentration online.
Professional firefighters can advance in the Fire Services with the assistance of the Associate in Applied Science (AAS) in Fire Service Management. For seasoned professional firefighters who want to deepen their understanding of advanced fireground tactics and strategy, building construction, practical incident command, supervisory training of personnel, public administration, fundamental finance, and human resource management, the program offers courses in those subjects. In order to pursue their professional aspirations, students can choose from a number of electives in fire science. There is also a Certificate of Completion (CCL) in Fire Service Management.
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sawhat are the components of the total net delivered cost of purchases? check all that apply. multiple select question. purchases purchase returns and allowances purchase discounts freight in cost of goods soldles - sales returns and allowances - sales
The net delivered cost of purchases is computed by adding the cost of purchases and freight in, then subtracting any purchases returns and allowances.
What are the components of net purchases?
Net purchases are determined by subtracting any discounts, refunds, or allowances from the total cost of purchases.
The credit balances from the debit balance in the purchases account from the credit balances in the purchases returns and allowances and purchases discounts accounts are used to compute net purchases. The price of the goods being purchased is equal to net purchases plus the debit balance on the freight-in account.
When a business purchases goods from a supplier, it typically returns some of the goods, requests allowances for defective items that are kept, and receives purchasing discounts for settling its suppliers' accounts ahead of schedule. These sums are added together at the end of the accounting period to produce a net purchases amount that will appear on the income statement.
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alden trucking company is replacing part of its fleet of trucks by purchasing them under a note agreement with kenworthy on january 1, 2019. alden financed $37,908,000, and the note agreement will require $10 million in annual payments starting on december 31, 2019 and continuing for a total of four more years (final payment december 31, 2023). kenworthy will charge alden trucking company the market interest rate of 10% compounded annually. on january 1, 2019, alden will record a note payable in the amount of: multiple choice $41,698,000. $37,908,000. $50,000,000.
Amount of interest expense to be recorded is $3,790,800
Amount of interest expense to be recorded = Amount financed by Aiden × Interest rate
Amount of interest expense to be recorded = $37,908,000 × 0.1
Amount of interest expense to be recorded = $3,790,800
Interest expense is the expense incurred by the accounting entity on borrowed funds. Interest expense is a non-operating expense shown on the income statement. It represents the interest payable on any borrowings – bonds, loans, convertibles or lines of credit.
Interest expense refers to the cost of borrowing money. It is the price the lender charges the borrower for using the lender's money. On the income statement, interest expense can represent the cost of borrowing money from banks, bond investors, and other sources.
Interest expense usually appears below EBIT (Earnings before interest and taxes) as a separate line on the income statement.
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Which of the following is NOT one of the major sectors of the food industry? The retail sector The food sector The farm service sector The processor sector
Retail industry includes farm services, producers, processors, and marketers. The food industry the ag service industry The processing industry
The food industries: what are they?
Actually, there are more than 30 separate industries that make up the food and beverage manufacturing sector. Slaughterhouses, the processing of meat, poultry, and fish, grain mills, maltings, bakeries, sugar confectioneries, the processing of fruits and vegetables, oils and fats, margarine, and edible oils, pasta, infant meals, and dairy products are a few examples.
Why is the food sector crucial?
The sector is involved in the initial processing of agricultural goods as well as the later processing. Domestic producers struggle to compete with global production giants in various areas of the food business. Thousands of thousands of individuals all throughout the nation work in the food producing industry.
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Mang Eming has diabetes. He needs insulin medicine based on the prescribed dosage prescribed by his doctor. Its price increased from Php500 per 10 ml vial to Php700 per 10ml vial Mang Eming had no choice but to buy the dosage prescribed by the doctor
Because it is inelastic, demand for healthcare services is relatively stable independent of price fluctuations. Conversely, elastic prices suggest that prices have a significant impact on demand.
What is the effect of price changing in Medicines ?Pharmaceuticals appear to be relatively price inelastic according to empirical estimates of price elasticities of demand (PED). The reported "composite" PED is impacted by simultaneous differential price adjustments in numerous contexts between a drug and its alternatives and supplements.
Most healthcare services, including pharmaceuticals, are regarded as being price inelastic, with price elasticities of demand (PED) close to -0.20, since the RAND health insurance experiment (1971–1982; see below). The demand for healthcare services fluctuates very little because it is inelastic.
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jake is shopping for a new toaster oven. he wishes to calculate the total cost of his purchase before going to the register, including the 9% sales tax. what's the total cost of the toaster oven that jake wants to buy if its price is marked at $39.99?
Jake's total cost of his purchase before going to the register is $43.59.
Define Sales Tax.When certain products and services are sold, the government is charged a fee known as a sales tax. Taxes on goods and services that customers pay directly to a governing body are sometimes referred to as use taxes. Sales tax pays for items on the state and local budgets including roads, fire agencies, and schools. The collection of all outstanding sales tax is something that many local governments take extremely seriously because it is how they sustain their budgets.
Original price = $39.99,
Sales tax = 9%
Total amount due = Original price + Sales Tax Amount
= 39.99 + (39.99 * 0.09)
= 39.99 + 3.599
= $43.59
Therefore Jake's total cost of his purchase before going to the register is $43.59.
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when the store director gives directions to the grocery store manager, what type of communication is being used.
Answer:
Upward Communication is used here for communication.
Explanation:
Upward CommunicationIn a hierarchically structured organization, it is the communication that takes place between individuals at different levels of the hierarchy, both ascending and descending.
As a result, upward communication is the most frequent type of communication in businesses and is crucial for maintaining efficient organizational flow, giving instructions, and receiving feedback on one's work.
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exas denim supply inc. noticed that while india had a population of more than 1.2 billion people, the retail market was such that more than 95 percent of retail was through stand-alone stores that were not part of a chain. in other words, if texas denim supply were to enter india, they would have to sell through thousands of independent retail stores. what kind of a retail system does india have for the products that texas denim supply is trying to sell? question 15 options:
The retail system in India is largely fragmented, so Texas Denim Supply would need to establish relationships with thousands of individual shops in order to penetrate the market. Additionally, Texas Denim Supply would need to develop an extensive distribution network to ensure that the products are available in all parts of the country.
India has a small shop retail system, where most retail transactions are conducted in small, independent shops. These shops can be anything from mom-and-pop stores to larger stores that specialize in specific products. These shops typically carry a wide variety of products, although some may specialize in certain items. These shops are often located in small towns, villages, and even in city centers.
However, this type of retail system can also be challenging for companies like Texas Denim Supply. Because these stores are independently owned, there is no single point of contact to work with. Instead, each store must be contacted individually, which can be time-consuming and costly. Additionally, these stores often require cash payments, which can be difficult for foreign companies to manage.
Overall, India’s largely unorganized retail system presents both opportunities and challenges for companies looking to enter the market. However, this type of retail system has allowed local entrepreneurs to thrive and has been a key factor in the growth of the Indian economy.
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hen the price of a good is above its equilibrium price, a: a. surplus puts downward pressure on the price. b. shortage puts upward pressure on the price. c. shortage puts downward pressure on the price. d. surplus puts upward pressure on the price.
The correct option is A. When the price is above the equilibrium price, we would expect the quantity demanded to less than the quantity supplied. As a result, the surplus will incur and the market would get clear only when there is downward pressure on the price level until it reaches the equilibrium price.
What is the equilibrium price?An equilibrium price is the consumer cost assigned to some product or service such that supply and demand are equal, or close to equal, it is also known as a market-clearing price, The manufacturer can sell all the units they want to move and the customer can access all the units they want to buy.
The correct option is A. When the price is above the equilibrium price, we would expect the quantity demanded to less than the quantity supplied. As a result, the surplus will incur and the market would get clear only when there is downward pressure on the price level until it reaches the equilibrium price.
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Excess capacity is the amount by which the exceeds the quantity that the firm produces. A. profit maximizing quantity B. mark up c. efficient scale D. cost minimizing quantity
The correct answer is D. Cost Minimizing Quantity which is the level of production that minimizes the total cost of production.
Excess capacity is the amount by which the actual capacity of a firm exceeds the quantity that the firm produces. This is usually measured in terms of output, labor, or capital. Excess capacity can occur for a variety of reasons, including technological advancements, changes in consumer demand, or overinvestment in production capacity.
The cost-minimizing quantity is the quantity of output that a firm produces at the lowest possible cost. This quantity is determined by the firm's production function, which shows the relationship between the inputs used in production and the output produced.
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a hurricane has affected a company in florida. what is the first step in the order of restoration? group of answer choices
A hurricane has affected a company in Florida. The first step in the restoration sequence is to enable and test the power distribution system.
A tropical storm that has sustained winds of 74 mph or greater is referred regarded as a hurricane. A storm's eye typically measures 20 to 30 miles in width and can reach distances of 400 miles. Storms can be dangerous because of their torrential downpours, strong gusts, and storm surges. Because of their far greater size, longer length, and broader range of ways to cause property damage, hurricanes typically cause significantly more overall harm than tornadoes. The Taino term hurricane, which means a malevolent wind demon, is where the name hurricane originates. In the midst of World War II, in 1943, the first person ever to fly into a cyclone. Once winds reach 74 miles per hour or more, a tropical storm is considered a hurricane. According to a 2014 study by Dr. Edward Rappaport, deputy director of the National Hurricane Center, water is the No. 1 killer during a hurricane or tropical storm that strikes the U.S. - constituting nearly 90% of all tropical cyclone deaths - mostly by drowning in either storm surge, rainfall flooding, or high surf.
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when firms advertise their products, they are attempting to: a. shift the demand for the product to the right. b. shift the supply curve of the product to the right. c. shift the supply curve of the product to the left. d. shift the demand for the product to the left.
Businesses market their goods in an effort to reach that many consumers as they can, hence increasing demand for their goods and boosting sales.
Since when are firms called?It is thought to have originated from the German word Firma, which meant "a corporation, name of a business" and was derived from the Italian words Firma, which meant "signature," and Firmare, which meant "to sign." Firmare, which originally meant "to make firm, affirm," also came to signify "confirm (by signature)" in late Latin.
What would firms do?A business that seeks to make money by offering goods and services is known as a firm. Firm and business are both acceptable terms. Different organizational structures for businesses, including corporations and single proprietorships, are available.
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Which of the following would be least likely to be considered an objective of internal control?
A. Checking the accuracy and reliability of petty cash. B. Detecting management fraud. C. Encouraging adherence to managerial policies. D. Safeguarding assets.
Safeguarding assets are least likely to be considered an objective of internal control.
Internal control is a system of procedures and policies designed to ensure the accuracy and reliability of financial and operational information, promote operational efficiency, and protect the organization’s assets. It is a process used by organizations to provide reasonable assurance that their objectives are being achieved.
Safeguarding assets is an important part of internal control, but it is not an objective. The objectives of internal control are to ensure the accuracy and reliability of financial and operational information, detect and prevent fraud, encourage adherence to managerial policies, and ensure compliance with applicable laws and regulations.
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as a growing sector of the u.s. economy, how much did the service sector contribute to the private-sector gross domestic product (gdp) in 2018?
The service sector contributed to 76.8% to the US private-sector gross domestic product (GDP) in 2018.
Why is the service sector crucial to the American economy?There are several reasons why the service sector is vital to society, including supplying the general public with necessary services Frequently, the public is served by service industries by way of important services like healthcare, transportation, and education.
In the United States, the service sector increased from producing less than 50% of the nation's gross domestic product (GDP) in 1919 to around 85% of the GDP in 2019. The primary driver of sustainable development is now volunteerism. About 70% of the world's economic output consists of services, and about 40% of all jobs worldwide are supported by these industries.
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be careful when signing a work-for-hire agreement if you are a songwriter. you may lose all rights to your song in the copyright law world. if your song sells thousands on itunes, you do not get to share in any of the publishing income. if you live in new jersey and itunes sold five of your songs for a total of $65,000, what is the tax owed at 7.0%?
A state government levy on profits is known as state income tax. The state will then use it to pay for its own public projects, employee benefits and salaries, and other expenses. Penalties, fines, and interest will accrue if taxes are not paid.
Income Taxes Due = Profits x 65,000 % Tax Rate x 7% = $4550 in NJ-owned taxes.
Which five states have the highest taxes?
California will have a 13.3% income tax rate in 2021, followed by Hawaii at 11%, New Jersey at 10.75%, Oregon at 9.9%, and Minnesota at 9.85%.
Which state charges the fewest fees?
In 2021, Alaska ranked among the least affordable states to live in while also having the lowest tax burden in the United States.
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resources tend to be allocated inefficiently when goods a. are rival in consumption and excludable. b. are available only at very high prices. c. are available free of charge. d. are private goods.
Resources tend to be allocated inefficiently when goods are available free of charge.
Option C is correct .
Resource allocation is inefficient when goods are available for free, because market forces are absent or non-existent because resources are free.
What is Resource Allocation?Resource allocation is the process of allocating and managing resources in a manner that supports the goals of an organization's strategic plan. Allocation of resources involves managing tangible assets such as hardware to maximize the use of softer assets such as human capital.
Why Resource Allocation Matters ?Resource allocation is very important in project management as it enables planning and preparation for project implementation or goal achievement. In addition, it helps you plan your resources in advance and keep track of your project team's progress.
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