b. liabilities are $42,000
c. liabilities are $57,000
d. liabilities are $98,000
Answer:
a. liabilities are $32,000
Explanation:
Note: In question part $75,000 shall represent equity, as there are only 3 parts of balance sheet assets, equity and liabilities, if assets are given liabilities is what we need to calculate the missing is equity.
Thus, $75,000 is treated as equity.
In that case we have,
Assets = Equity + Liabilities
$107,000 = $75,000 + Liabilities
Assets - Equity = Liabilities
$107,000 - $75,000 = Liabilities
$32,000 = Liabilities
Therefore, correct option is
a. liabilities are $32,000
B.Only the credit bureaus know exactly how credit scores are calculated.
C.Both A & B
D.Neither A nor B
Answer:
The answer is D. Lagging Adopters
Explanation:
Lagging Adopters is the answer because, this group is slow to adapt to new ideas or technology. They tend to adopt only when they are forced to or because everyone else has already.
B. liability
C. property
D. personal
The scenario presented is an example of a Tax Deduction in the context of a progressive tax system, reducing the taxable income by the amount donated to charity.
The situation described in the question is an example of a Tax Deduction. A tax deduction reduces the amount of income that is subject to taxation. In this specific case, the individual earned $50,000, but because they donated $2,000 to charity, they were able to deduct this amount from their taxable income. Thus, they are only taxed on an income of $48,000. This principle is part of the federal income tax system, a progressive tax system which is set up such that individuals with higher incomes usually pay a larger share of their income in taxes than those with lower incomes.
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