Economic wealth gap is a social phenomenon that refers to the unequal distribution of wealth among different groups in a society
What is the economic wealth gap?The disparity of total assets between racial and ethnic groups is known as the economic wealth gap. This economic wealth gap is a result of the historical generational accumulation of assets as well as difference in income . Economic wealth gap is because of a number of things, such as historical racial segregation, governmental policies, a stagnant minimum wage, outsourcing, globalization, advancements in technology, and the declining influence of labour unions.More than any other major developed country, the United States has a widening wealth gap between the rich and the poor. The unequal distribution of wealth among various groups in a society is known as the economic wealth gap, which is predominantly considered as a social phenomenon.To learn more about assets, refer:
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What are the major benefits that result through international trading?.
International trade enables countries to broaden their markets as well as gain access to commodities and services which would otherwise be unavailable locally.
The market has become more competitive as a consequence of international trade. This ultimately leads to more competitive rates as well as a lower-cost product for the consumer.
The first advantage of international trade would be the creation of a wide range of work opportunities. This would be since international trade serves to create additional jobs by developing new sectors to satisfy product demand in different countries.
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What is an amortization table able to do?
A: It is only meant to be used for mortgage loans
B: It is only meant to be used for student loans
C: It can break down payments within escrow accounts
D: It can show how much money will be included in savings accounts
Base on findings it can be deduced that an amortization table is able to show how It can break down payments within escrow accounts.
What is amortization table?An amortization table refer to document or paper that reveal the total amount a person will pay every month after collecting a loan. An amortization table it is use to reveal the payment schedule the person will work with when he or she collect is granted from the bank or an organization. It is is use to summaries every payment that is borrowed or loan taken and how the person will pay it back at a stipulated period.
Therefore, an amortization table shows the total amount of loan taken by a person and his payment schedule.
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when is it appropriate to use a think-local, act-local approach strategy? a. when the need for local responsiveness is minimal and when potential efficiency gains from standardization is unrestricted by cross-country opportunities. b. when the local manager is intellectually savvy. c. when the local market provides strong opportunity for growth and profitability. d. when the need for local responsiveness is high due to significant cross-country differences in demographic, cultural, and market conditions, and where benefits from standardization is limited. e. when the need for centralized decision making is relevant due to various macroeconomic and market conditions.
D. when the need for local responsiveness is high due to significant cross-country differences in demographic, cultural, and market conditions, and where benefits from standardization is limited is it appropriate to use a think-local approach strategy.
The Oxford Dictionary defines approach as: “A course of action designed to achieve a protracted-time period or ordinary goal” “The artwork of planning and directing general navy operations and actions in a battle or battle”
Strategy as we've got recognized refers back to the lengthy-time period purpose or roadmap for an company, and the way it plans to attain them. Or, the path the employer will take towards its goals. Conversely, strategies talk to the specific set of moves taken to reach the organizational goals, or strategy.
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pursuant to the uniform commercial code (ucc), is best described as previous commercial transactions between the same parties to a contract.
Course of dealing, as defined by the Uniform Commercial Code (ucc), is best characterized as prior business dealings involving the same parties to a contract.
A "course of dealing" is a series of acts taken by the parties to a certain transaction in relation to earlier transactions that may be legitimately viewed as developing a shared understanding for interpreting their statements and other behavior.
A collection of commercial regulations known as the Uniform Commercial Code (UCC) governs financial agreements and business dealings between states. The nine distinct articles that make up the UCC code each address a different area of banking and loans.
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question content area eft a.means efficient funds transfer b.can process certain cash transactions at less cost than by using the mail c.makes it easier to document purchase and sale transactions d.means effective funds transfer
EFT means that can process certain cash transactions at less cost than by using the mail.
EFT is one of the items that the bank reconciliation reconciles under the book records. Although it has not yet been deducted from the book's entries, it is noted as a deduction in the bank records. EFT refers to any financial transaction that is initiated through an electronic terminal, phone, computer, or magnetic tape with the intention of ordering, instructing, or authorising a financial institution to debit or credit an account.
EFT excludes transactions started with cash, checks, or similar paper instruments. The phrase refers to a variety of credit card transactions, including Fed Wire transfers, Automated Clearing House (ACH) transfers, transfers made at ATM and Point-of-Sale (POS) terminals (including those made using the Government small purchase card).
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economist mancur olson suggested that interest groups tend to have a harder time avoiding the free-rider problem as they grow larger because
The free-rider problem as they grow larger because people are not particularly motivated to become active members and supporters of an organization that is already essentially advocating for them.
What is the problem with free riders?Free riding is viewed as an example of the traditional free market system failing.The issue arises when certain community members don't pay their fair part of the expenditures associated with a shared resource.The resource can no longer be produced economically because of their lack of participation.a circumstance where individuals have no incentive to contribute because they can profit from a group activity whether or not they helped pay for it Parties.The free rider issue can be solved by taking steps to ensure that those who use a public good pay for it.Governmental initiatives, social pressures, and payment collection are examples of such measures—in circumstances when markets have found a method to do so.To learn more about free rider ac refer,
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Which warehouse ownership type provides the advantage of providing the client with the option of obtaining specialized services tailor-made to suit their needs without the disadvantage of high startup costs?.
Contract warehouse ownership type provides the advantage of providing the client with the option of obtaining specialized services tailor-made to suit their needs without the disadvantage of high startup costs.
The act of having legal custody and control over anything, whether it be a material item or an intangible one, is known as ownership. Multiple rights that make up ownership, generally known as title, may be distinct and owned by various persons.
The mechanics of ownership are rather complicated; there are many different methods to acquire, transfer, and lose ownership of something. In order to get property, one can pay cash for it, exchange it for other items, win a bet, receive it as a present, inherit it, locate it, claim damages for it, labor for it or provide a service for it, manufacture it, or homestead it.
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According to keynesian economics theory, what should the government do during times of excessive economic growth and inflation?.
When there is strong demand-side growth, the government would raise taxes to restrain the economy and avoid inflation.
Explain about the inflation?The rate at which prices increase over a specific time period is known as inflation. Inflation is often measured in broad terms, such as the total rise in prices or the rise in a country's cost of living
Demand-pull, cost-push, and inflation expectations are the three basic sources of inflation that can be categorised broadly.
According to Stanford economist John Taylor, inflation increases when the Federal Reserve sets an interest rate that is too low or when the growth of the money supply is too rapid, as it is at the moment.
Investors can profit from inflation despite slow economic growth rates provided they have the right stocks and commodities in their portfolios.
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oil reserves, inc., and petro corporation form a joint venture to design and test petroleum storage facilities and equipment. when a dispute arises, oil reserves files a suit against petro. the court is most likely to apply the same principles to this joint venture as it applies to
Oil reserves, inc., and petrol corporation form a joint venture to design and test petroleum storage facilities and equipment. when a dispute arises, oil reserves file a suit against petrol. the court is most likely to apply the same principles to this joint venture as it applies to Partnerships.
A joint venture (JV) is an enterprise association wherein or greater events conform to pool their assets for the cause of carrying out a selected mission. This mission may be a brand-new task or some other enterprise activity. Each of the contributors in a JV is liable for profits, losses, and expenses related to it.
A joint venture entails or greater men and women or entities becoming a member of collectively specially task, while in a partnership, it's far folks who be a part of collectively for a blended enterprise. A joint mission may be defined as a contractual association among or greater entities that targets to adopt a selected mission.
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true or false: monitoring is an effective component of internal control, whether or not deficiencies are communicated to those with oversight responsibilities in a timely manner.
False, monitoring is an effective component of internal control, whether or not deficiencies are communicated to those with oversight responsibilities in a timely manner.
The parts that make up something are considered its components. A nuclear weapon's main ingredient is enriched uranium. The management plan is made up of four main parts. Synonyms: component, piece, unit, and item More Component's opposites. The terms "element," "component," "constituent," and "ingredient" all refer to a constituent part of a compound or complex whole. Any such part can be considered an element, which frequently denotes irreducible simplicity. Monitoring is the practice of continuously observing a disease, condition, or one or more medical parameters. It can be done by repeatedly running medical tests or by using a medical monitor to continuously measure certain parameters. His phone calls were being Monitoring over by the CIA in secret. To oversee the ceasefire, a military force of 1200 people will be present.
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What is pre instruction assessment?.
Pre-assessment gives instructors a means to gain crucial details about what students know and can perform before teaching, as well as about their interests and learning preferences. Pre-assessments may consist of activities to be completed using paper and pencil or maybe performance-based.
Before starting a learning activity, diagnostic tests, often called pre-assessments, give teachers insight into students' prior knowledge and beliefs. They also offer a starting point for determining how much learning has occurred when the learning activity is over.
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colin thinks he can reasonably expect to buy a house in five years. he would like to have accumulated a $30,000 down payment (or a 20% down payment) on a $150,000 home. if colin thinks he can earn 4% per year on his investments, how much must he invest annually (rounded to the nearest whole dollar) to reach his goal?
The amount of investment that Colin has to invest annually is $2,769.
The worth of a series of recurrent payments at a specific future date, assuming a specific rate of return, or discount rate, is the future value of an annuity. The future value of the annuity increases with the discount rate. Money received or paid out today is worth more than the same amount will be in the future due to the time value of money. The ability to invest and let the money grow over time explains why.
Using the formula of the future value of an annuity:
FVA = P*[{(1+r)^n - 1}/r]
where FVA = future value of the annuity
P = principal amount invested
r = rate of interest
Calculation of annual investment:
P = FVA/[{(1+r)^n-1}/r]
= 30000/[{(1+0.04)^5-1}/0.04]
= $2769
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United pigpen is considering a proposal to manufacture high-protein hog feed. The project would require use of an existing warehouse, which is currently rented out to a neighboring firm. The next year’s rental charge on the warehouse is $100,000, and thereafter, the rent is expected to grow in line with inflation at 4% a year. In addition to using the warehouse, the proposal envisages an investment in plant and equipment of $1. 2 million. This could be depreciated for tax purposes straight-line over 10 years. However, pigpen expects to terminate the project at the end of 8 years and to resell the plant and equipment in year 8 for $400,000. Finally, the project requires an immediate investment in working capital of $350,000. Thereafter, working capital is forecasted to be 10% of sales in each of years 1 through 7. Working capital will be run down to zero in year 8 when the project shuts down. Year 1 sales of hog feed are expected to be $4. 2 million, and thereafter, sales are forecasted to grow by 5% a year, slightly faster than the inflation rate. Manufacturing costs are expected to be 90% of sales, and profits are subject to tax at 25%. The cost of capital is 12%. What is the npv of pigpen’s project?.
Venture NPV High-protein hog feed production is a proposition that United Pigpen is considering. The proposal would utilize a current warehouse.
Explain about the Warehouse?
The act of holding products for eventual distribution is known as warehousing. Any location utilized for stockpiling products is referred to as a warehouse.
A building used to store goods is called a warehouse. Warehouses are used by manufacturers, importers, exporters, wholesalers, transportation firms, customs, etc.
Depending on the building and location, renting a large warehouse in Los Angeles, California might cost anywhere from $0.0 and $5 per square foot per month. Depending on the size, renting a large warehouse in Los Angeles varies in price. A large warehouse can be rented for roughly $2,000 per month.
A 30-by-40-foot or 1,200-square-foot warehouse will cost about $25,000, whereas a 50,000- to 60,000-square-foot distribution centre may cost between $750,000 and $1M, depending on the features and materials utilized.
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Which of the following statements regarding private health insurance plans is true? a. In a traditional indemnity plan, the premium cost is low if it is a high-deductible plan. b. In managed care plans, employers contract with the health care service provider. c. In traditional indemnity plans, the insured pays 80% of the eligible health care expenses. d. In fee-for-service plans, the health care provider is the same as the insurer. e. Group health insurance is a contract between pharmaceutical companies and the health care provider.
Among the following statements regarding private health insurance plans with things which are traditional indemnity plans, the premium cost is low if it's a high deductible plan. Hence, option A is appropriate.
What are the indemnity plans?Medical insurance policies known as indemnity plans-based health insurance pay the insured for actual hospitalization costs incurred throughout treatment up toward the total policy amount insured amount.
An indemnity plan is a commitment to hold another party harmless from future losses or damages. The act of repaying another entity after a loss has been incurred is known as indemnification. A contract for indemnity releases the indemnitee from liability and indemnifies the Indemnitor.
Hence, option A is correct.
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Asking the right questions and treating a customer as a person fall into which stage of the selling process?.
Asking the proper questions and treating a client as someone fall into Close degree of the promoting process.
The required details for customer in given paragraph
In sales, commerce, and economics, a client (now and again called a consumer, buyer, or purchaser) is the recipient of a good, service, product or an concept - received from a seller, vendor, or supplier through a monetary transaction or exchange for money or a few different valuable consideration. The time period consumer is derived from Latin customers or care meaning "to incline" or "to bend", and is associated with the emotive concept of closure. It is broadly believed that humans best alternate their behavior whilst stimulated by greed and fear. Winning a consumer is, therefore, a novel event, that's why expert professionals who cope with unique troubles have a tendency to draw long-time period customers in place of normal customers.
Unlike normal customers, who purchase simply on rate and value, long-time period customers purchase on enjoy and trust.
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Mia transferred $1,000 from her checking account to a certificate of deposit. How will the m1 and m2 measures of the money supply change?.
M1 will decrease and M2 will not change, when Mia transferred $1,000 from her checking account to a certificate of deposit.
What are M1 and M2 in the money supply?The money aggregates also referred to as M1, M2, and M3, are measures of the money supply in the United States. In addition to checkable bank deposits, M1 also includes the money in circulation. M2 consists of M1 and money market mutual funds, plus savings deposits under $100,000. Large-time bank deposits are added to M2 to create M3.
The name comes from the fact that the M1/M0 unit of account, which serves as the foundation for the medium of exchange within an economy, is the narrowest or most constrained unit of account. The most accessible type of money for transactions and commerce is thought to fall into this category. Because M1 is a more liquid measure of the money supply than M2, the two have different growth rates. There are some less liquid components in M2.
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calculating payback [ lo2] an investment project provides cash inflows of $835 per year for eight years. what is the project payback period if the initial cost is $1,900? what if the initial cost is $3,600? what if it is $7,400?
Part a: The payback period for the initial cost of $1900 is 2.27 years
Part b: The payback period for the initial cost of $3600 is 4.31 years
Part c: The payback period for the initial cost of $7400 is 8.86 years
Part a:
Project initial cost = $1900
Cash inflow = $835
Project payback period = Initial cost/Cash inflow
= 1900/835 = 2.27 years
Part b:
Project initial cost = $3600
Cash inflow = $835
Project payback period = Initial cost/Cash inflow
= 3600/835 = 4.31 years
Part c:
Project initial cost = $7400
Cash inflow = $835
Project payback period = Initial cost/Cash inflow
= 7400/835 = 8.86 years
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Roberta thinks that she should store all of her savings under her mattress. Her son micah wants her to invest the money. He tells her that when money is invested or saved in an account earning interest, that sum increases in value over time without the owner doing anything. What concept is micah trying to teach roberta?.
The time Value of Money concept is Micah trying to teach Roberta. To summarize, people believe that money has value because they believe they will be able to exchange it for goods and services in the future.
Why does the value of money in a savings account increase over time?Money today is worth more than money tomorrow, according to the concept of the time value of money. This is due to the fact that money today can be spent, invested in, or grown. As a result, a dollar earned today is not the same as a dollar earned a year from now because money earned today can generate interest, unrealized gains, or unrealized losses.
The concept of the time value of money (TVM) states that a sum of money is worth more now than it will be at a later date due to its earning potential in the interim. The time value of money is a fundamental financial principle. A sum of money in one's hand is worth more than the same sum paid in the future.
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true or false: the government can raise its tax revenue by decreasing the per-unit tax on cigarettes.
The statement is True. The government can raise its tax revenue by decreasing the per-unit tax on cigarettes.
Sales describe income generated thru enterprise operations, while income describes net profits after deducting fees from earnings. Revenue can take diverse forms, which include sales, income from costs, and income generated with the aid of assets.
Revenue also recognized sincerely as "sales", does not deduct any charges or prices associated with running the enterprise. Income is the number of earnings that stays after accounting for all fees, debts, extra income streams, and running fees.
For accounting functions, revenue is recorded on the profits statement in preference to the stability sheet with other assets. Sales are used to spend money on different properties, pay off liabilities, and pay dividends to shareholders. Consequently, sales itself isn't always an asset.
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retained earnings are question 16 options: a) a form of equity financing. b) interest earned on bond investments. c) nontaxable income. d) the portion of the profit paid to stockholders. e) the same as net profit.
Retained earnings are the portion of the profit paid to stockholders.
A shareholder (inside the usa frequently referred to as stockholder) of a business enterprise is an individual or felony entity (together with some other corporation, a body politic, a agree with or partnership) this is registered by way of the agency because the prison owner of shares of the share capital of a public or non-public corporation. Shareholders may be known as participants of a company. someone or legal entity will become a shareholder in a employer while their name and other information are entered inside the agency's sign up of shareholders or contributors,[1] and until required by law the business enterprise is not required or authorised to enquire as to the beneficial possession of the shares. A enterprise commonly can not personal stocks of itself.
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charles andrada, an electrician, has the ability to read and follow building plans and wiring diagrams. this ability is an example of a skill.
Charles Andrada, an electrician, has the ability to read and follow building plans and wiring diagrams. This ability is an example of a technical skill.
Technical skills are the specialised knowledge and proficiency required to carry out complicated actions, tasks and processes related to computational and physical technology as well as a wide range of other enterprises. The term "technician" is frequently used to describe people with technical knowledge. Examples include audio technicians, microelectronic technicians, market specialists, computer engineers and people with a variety of other job titles. Technical analysis signals are used by some market participants to buy and sell stocks, bonds and other financial instruments. This type of market participant is said to have technical skills.
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smileline inc. has an onsite day-care facility and provides employees with full-time day care at a very low cost. the company implemented this years ago when managers realized that child-care responsibilities were contributing to high turnover and absenteeism. this example highlights which dividend of workplace diversity?
Reduced-costs associated with high turnover, absenteeism, and lawsuits are the example highlights which dividend of workplace diversity.
Absence is the habit of being absent from a task or obligation without a valid reason. In general, an absence is an unplanned absence. Absence is seen as a sign of poor personal performance, as well as a breach of the implicit contract between the employee and the employer.Absence is any absence or failure to stay at work as scheduled, for any reason. Absences are often unplanned, such as when someone is sick, but can also be planned in advances, such as a strike or voluntary absence.
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an is auditor at a bank is performing compliance testing and has discovered that one of the branches has virus signatures that have not been updated in over six months. in this case, the is auditor should recommend:
Answer:
the answer is 9,99999999
Explanation:
Based on the information, in this case, the auditor should recommend an automated process initiated from the main office to update antivirus software at each branch. Thus the correct option is 2.
What is a Bank?
A bank is referred to as a financial institution that allows an individual to deposit and withdraw cash and allow them to borrow funds with a fixed interest rate for the purpose of investment.
In the given case, it is explained that While conducting compliance testing at a bank, an auditor found that the viral signatures at one of the locations had not been updated in more than six months.
When a branch's viral signatures have not been updated in more than six months. For enhanced recording and data storage, it is advised to automate the process of updating antivirus software at each branch, starting from the main office.
Therefore, option 2 is appropriate.
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The complete question is probably
An IS auditor at a bank is performing compliance testing and has discovered that one of the branches has virus signatures that have not been updated in over six months. In this case, the IS auditor should recommend:
1) security awareness and education regarding the importance of updating antivirus software.
2) an automated process initiated from the main office to update antivirus software at each branch.
3) reconfiguration of the firewall to a most-restrictive policy and implementation of an intrusion prevention system (IPS).
4) that the branch recertify the machines after the updates are installed.
nevada copper company, inc. reported a net profit of $8.00 per share and a dividend of $3.50 per share. if you bought shares of the stock at $93.25 per share, what is your dividend yield?
Nevada Copper Company, Inc. reported a $3.50 per share dividend and a net profit of $8.00 per share. Your dividend yield is 3.75% if you purchased shares of the stock at a price of $93.25 per share.
The meaning of dividend yieldsThe dividend yield is another another metric to use when estimating investment income. This is the proportion of a company's current yearly dividend to its stock price at the time of calculation. In general, the dividend yield increases when the payout remains the same and the share price decreases.
A good dividend yield is what?High enough to cover your present income demands, a respectable dividend yield. however, low enough to imply that a company's payout is not under jeopardy. The range of dividend yields that satisfy these criteria is typically between 2% and 5%. Considering that an investor might not receive enough current income from a stock with a yield of less than 2%.
Dividend share= $3.50
Stock Purchasing Price= $93.25
Dividend Yield= [tex]\frac{dividend}{Purchase Price}[/tex]
= [tex]\frac{3.50}{93.25}[/tex]
= 0.0375
= 3.75%
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osts that are incurred for the joint benefit of more than one department and cannot be readily traced to only one department are:
Osts that are incurred for the joint benefit of more than one department and cannot be readily traced to only one department are Indirect expenses.
Indirect expenses are costs that aren't directly responsible to a cost object. circular costs may be either fixed or variable. circular costs include administration, labor force, and security costs. These are those costs that aren't directly related to the product. Some circular costs may be overhead.
Indirect costs represent the charges of doing business that isn't readily linked with a particular entitlement, contract, design function or exertion, but are necessary for the general operation of the association and the conduct of conditioning it performs.
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imagine a neighborhood in a suburb that is known for its strong school system. houses in the area are very expensive, and substantially above the ability for someone making the average annual salary for the surrounding communities. ninety-five percent of homes in the neighborhood are currently owned by white individuals. this is an example of
This is an example of de facto segregation.
De facto segregation is the separation of groups that occurs even though it is not required or permitted by law. Instead of a deliberate attempt to separate groups, de facto segregation is the result of personal habits, circumstances, or choices. The so-called urban "white aviation" and environmental "gentrification" are two modern examples.
In the de facto segregation of white aviation of the 1960s and '70s, millions of whites who chose not to live among blacks fled urban areas for the suburbs. The satirical phrase "That's where the neighborhood is" reflects the fear of white homeowners that the value of their property will drop when black families move.
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which scam, as described by the fbi, involves an appraiser working secretly with a borrower and providing a fraudulent appraisal report to the lender?
An asking price that is significantly higher than the home's market value is determined by an overinflated loan appraisal.
A mortgage fraud that can cause a buyer to pay a lot more for a home than they should is an appraisal that is too high.
What improves an evaluation?
How to Increase Your Home's Appraisal Value for a Refinance A refinance application can be made or broken by appraisal values. A more favorable evaluation may result from a thorough cleaning, new flooring, updated fixtures, and fresh paint.
What is a different term for an evaluation?
Assess, estimate, evaluate, rate, and value are all common synonyms for appraise. Although all of these terms mean "to judge something with respect to its worth or significance," the term "appraise" can be used for any critical judgment, although it typically refers to the determination of a thing's monetary worth by an expert.
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the owner of a pizza restaurant needs to buy a new pizza oven for the restaurant. the oven costs $500, is expected to last 5 years, and will be depreciated using the straight line method. if the total cash inflows from the new oven are constant at $960 for the next 5 years, and the total cash outflows are constant at $280 for the next 5 years, determine the cash flow for the pizza restaurant in the second year assuming the tax rate is 34%.
The cash flow for the pizza restaurant in the second year is $482.80.
What is the cash flow?The formula that can be used to determine the cash flow is:
Cash flow = (cash inflow - cash outflow - depreciation) (1 - t) + depreciation
Where:
t = tax rate
The straight line method is a method that is used to linearly allocate the depreciation expense of an asset over its useful life.
Depreciation expense = (cost of asset - salvage value) / useful life
(500 - 0) / 5 = $100
Cash flow = ($960 - $280 - $100) ( 1 - 0.34) + $100
Cash flow =( $580 x 0.66 ) + $100
Cash flow = $382.80 + 100
Cash flow = $482.80
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the consumer sovereignty view emphasizes the free will of individual consumers, and views consumption as an economic transaction dependent on:
The consumer sovereignty view emphasizes the free will of individual consumers, and views consumption as an economic transaction dependent on price based decisions
What is economic transaction ?When one person gives something of economic worth to another, an economic transaction takes place. Transactions involving products, services, income, and financial assets and obligations are all seen as having economic worth.A situation like a prisoners' dilemma might be used to describe an interaction, like an economic transaction. The notion that a gift is only a gift until it is returned and then transforms into an economic transaction is developed by Derrida. This was a self-liquidating economic transaction because he owned the garage.As a result, the Manual only distinguishes between three fundamental sorts of transactions: thoseTo learn more about economic transaction refer to:
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zenon, incorporated has the following taxable income: u.s. source income $ 1,900,000 foreign source income 240,000 taxable income $ 2,140,000 required: zenon paid $33,000 foreign income tax. compute its u.s. income tax, assuming the foreign source income does not qualify as fdii. note: do not round any intermediate division.
The income tax, assuming the foreign source income does not qualify as fdi is $50400.
What exactly is income tax?Income taxes are levied on the earnings of both businesses and individuals. Wages, salaries, dividends, interest, royalties, rents, gambling winnings, and product sales are all examples of income taxable earnings.
An income tax is a tax levied on individuals or entities based on their earnings or profits. In most cases, income tax is calculated as the product of a tax rate multiplied by the taxable income. Taxation rates may differ depending on the taxpayer's characteristics and the type of income.
Based on the information illustrated in the question, the income tax will be:
Taxable income $2,140,000
Tax rate 0.21
Precredit U.S. tax $449,400
Foreign tax credit (actual tax paid) (33,000)
Zenon’s U.S. tax $416,400
Foreign tax credit limitation:
= $449,400 × $240,000
Taxable income = ($449,400 × $240,000) / $2,140,000
Taxable income = $50,400
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