Suppose that the economy is currently at potential gdp, and the federal budget is balanced. if the economy moves into recession, what will happen to the federal budget?

What are indicators that economists use to measure how an economy grows? Select all that apply.

Bonnie and Ernie file a joint return. Bonnie works and receives income during the year but Ernie does not. If the couple files a joint tax return, Ernie is responsible for paying any taxes due if Bonnie is unable to pay the taxes.

A company is in its first month of operations. The company pays total salaries to its employees of $600 per day. For the first four weeks of January (28 days), the company paid its employees $16,800 cash.

Alaska Mining Co. acquired mineral rights for $37,878,000. The mineral deposit is estimated at 21,400,000 tons. During the current year, 2,150,000 tons were mined and solda. Determine the amount of depletion expense for the current year.

What is a good way to guard against disorderly cash records or cash loss?

A promissory note a. cannot be factored to another party. b. has the party to whom the money is due as the maker. c. may be used to settle an accounts receivable. d. is not a formal credit instrument.

Davison Company determined that the book basis of its net accounts receivable was less than thetax basis of its net accounts receivable by $800,000 due to a difference in the allowance for baddebts account.

Why do you think government bonds usually have a low risk of default?

Paying attention to the trends that might impact your future career is called what?

Sheila went to college to study accounting, and got her first entry-level job right after graduating. however, as she gained more experience at the law firm where she worked, she became more knowledgeable about tax law and decided to make a