Among the following given options that will not affect the amount of the earned income tax credit (etic) would be amount of previous years credit already taken. Option B is correct.
What is Earned Income tax Credit?'A scheme of a tax avoidance incidence in the form of earned income tax credit, a government program that boosts the salaries of low-wage workers.
In economics, tax incidence, also known as tax burden, is the impact of a certain tax on how wealth is distributed. Economists make a distinction between the entity that first receives the tax and the one that ultimately bears the tax burden.
The earned income tax credit (EITC) also refer as the earned income credit (EIC), was created to supplement low-income workers' incomes and lessen the impact of Social Security levies in form of "work bonus plan,"
Thus old credit in previous year would not affect the EIC of current year.
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a team where a manager or a leader determines the overall purpose or goal of the team, but team members are at liberty to manage the means by which they meet that goal is called a:
They meet that goal is called a global brand team members are at liberty
Brands that are well-known across much of the world are considered global brands. Businesses must take the following actions if they want to develop worldwide brands: Find out which markets are most appealing to your brand overall; In each country you're considering entering, do usage and attitude research.
Due to their expansion in experience and length of time spent in the industry, these worldwide brands frequently vary as to quality and superiority. Numerous businesses, like McDonald's, Coca-Cola, and my other picks, have left their mark on the world and will unquestionably be held in high regard by every industry that has connections to them.
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when a company has a customer that has not paid its account receivable and negotiates that the customer will provide an interest-bearing note in satisfaction of the account receivable, it will?
When a firm has a customer that has not paid its account receivable and negotiates that the customer will submit an interest-bearing note in payment of the account receivable, then it will receive the interest and the principal amount will be classified as bad debts.
What is an interest-bearing note?An interest bearing note is defined as a loan from a lender to a recipient or a borrower that bears interest as per the terms of the arrangement with both the parties.
Therefore, In the given case, the company received the interest bearing note by the customer that he will pay the interest amount for the amount that he received from the company, but the principal amount will be called as the bad debts.
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the problem associated with the government reacting to the record harvests by increasing taxes or decreasing spending is:
The problem associated with the government reacting to the record harvests by increasing taxes or decreasing spending is that Unemployment will increase.
What is Unemployment?
When someone actively seeks job but is unable to do so, this is referred to as being unemployed. One important indicator of the state of the economy is unemployment.
The unemployment rate is the most often used indicator of unemployment. It is computed by dividing the total labor force by the number of jobless people.
Numerous governments provide unemployment insurance to certain unemployed people who meet the criteria.
Governmental organizations gather and make available unemployment data in a number of ways.
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when a plant asset is retired, the difference between original cost and the book value of the asset is
The identical plant asset is recorded as a loss on disposition of a plant asset on the income statement.
The difference between a fixed asset's acquisition cost and its total historical depreciation is its book value. In the event that the disposal takes place at any time during the year, depreciation must be recorded for the portion of the year leading up to the disposal date. The balance sheet should no longer include that amount. The current book value, which is the asset's initial acquisition price, is taken into consideration during this process.
The amount depreciated throughout the asset's useful life and, if any, the cash received. This usually entails selling long-term assets without getting paid for doing so. When posting an asset with salvage value, you must account for both the asset's accumulated depreciation and the loss of salvage value from retirement. Enter the ledger entry in three lines for a machine with a total cost of $100,000 and a depreciation expense of $80,000.
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