Mr. Madaren is using a Factual type of question.
The definition of factual is true or concerned with actual details or information rather than ideas or feelings about it. A claim that it was 20 levels the day prior to this is an instance of something that is actual as long as it is true.
Of or regarding facts factual errors are the genuine components of the case. 2: restricted to or based totally on reality and actual assertion She attempted to separate what is factual from what isn't.
Present in act or truth 2. of or referring to or characterized with the aid of facts three. present in reality whether with lawful authority or not 4. characterized by truth.
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Define a possible management and research objective in the following situation: (Marks – 5)
Situation: Employee loyalty
Companies benefit through employee loyalty. Crude downsizing in organizations during the recession crushed the loyalty of millions. The economic benefits of loyalty embrace lower recruitment and training costs, higher productivity of workers, customer satisfaction, and the boost to morale of fresh recruits. In order that these benefits are not lost, some companies, while downsizing, try various gimmicks. Flex leave, for instance, is one. This helps employees receive 20% of their salary, plus employer-provided benefits, while they take a 6- to 12-month sabbatical, with a call option on their services. Others try alternatives like more communication, hand-holding, and the like.
NOTE: Answer the above question in 200-250 words. Dont give copied answers. Please answer in your own words. Dont give the answer if you cant give it in 200 words minimum.
Explanation:
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Typical line positions are found in _____ departments. Group of answer choices production and marketing human resources and legal human resources and public relations public relations and marketing legal and marketing
Typical line positions are found in human resources and legal human departments.
A component of the legal system that focuses on regulations impacting the workplace and employees is human resource law. You may learn more about human resource law, the universities that provide it, and the employment prospects for human resource managers by visiting this page.
Federal employment rules and regulations, employment discrimination, and workplace privacy issues are all covered by human resource law. A component of the legal system that governs hiring, evaluating, promoting, and terminating employees is human resource law. In order to prevent lawsuits, the business and employer are now able to treat all of their employees fairly and equally. Laws that apply to non-unionized workplaces also fall under the category of human resource law.
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12.15. How can a forward contract on a stock with a particular delivery price and delivery date be created from options
An investor can buy/sell a call option and a put option with the same strike price and expiration date in order to simulate a standard forward contract.
A synthetic forward contract creates an offsetting forward position by combining call and put options with the same strike price and expiration date.
A forward contract is a customizable derivative contract between two parties to purchase or sell an asset on a future date at a defined price. Forward contracts may be customized to include a particular commodity, quantity, and delivery date.
Assume the delivery cost is k and the delivery date is t. When both options have strike price k and exercise date t, a forward contract is formed by purchasing a European call and selling a European put. Under all conditions, this portfolio produces a payout of st -k, where st is the stock price at time t. Assume FO is the forward price. If k=FO, the new forward contract has no value. When the strike price is F0, the price of a call matches the price of a put.
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Debt financing: (select all that apply)
is a loan
must be repaid
gives an investor equity in your company
has no risk to the borrower
Except for the C option, all pertain to the context of debt financing. Lenders who provide debt financing are only eligible for capital plus interest payback.
Which is most preferably between Debt Financing and Debt Equity by Companies?
The main reason businesses choose debt financing over equity financing is that debt financing preserves company ownership, whereas equity financing, such as selling shares and common stocks, gives investors a continuing equity stake in the company in exchange for shareholder voting rights and dilutes the ownership of the company's owners.
Debt financing is the process by which a business raises funds by offering investors debt instruments. Equity finance, which involves issuing stock to raise money, is the reverse of debt financing. When a company sells fixed income securities like bonds, bills, or notes, debt financing takes place.
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Big City Grocers, an international company, opens a store in a town predominantly populated by a particular racial group. While recruiting employees for the store, it uses a test in the selection process that favors that same racial group. When questioned about the selection procedure, the management reasons that the customers are more comfortable with employees of their own race. In the context of the legal standards of selection, what is an accurate statement
Greater Grocer's actions during the selection process violate the Civil Rights Act of 1991 because customer preference is not a justifiable reason for discrimination practices.
What are the legal standards of selection according to the Civil rights act of 1991?Even before they become workers, job candidates have legal rights.A company cannot criminally discriminate in its hiring processes based on a job applicant's race, national origin, gender, pregnancy, age, disability, or religion, according to federal law. State and local legislation may establish extra protected classes based on characteristics such as a job applicant's sexual orientation. Employers must follow anti-discrimination regulations at every stage of the hiring process, from posting a job ad to conducting interviews to selecting the candidate to be recruited.
Therefore, an accurate statement can be that Greater Grocer's actions during the selection process violate the Civil Rights Act of 1991 because customer preference is not a justifiable reason for discrimination practices.
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What is the primary purpose of ABC's T.R.A.C.E. program?
The primary purpose of ABC's TRACE program is to identify and investigate where persons under 21 years of age obtained alcohol and who was killed or obtained serious injury or accident.
What is the ABC's TRACE program?The program involves a protocol that allows first responders to respond immediately by notifying ABC when an incident involves a person under 21 and an alcoholic beverage that results in great bodily injury or death.
Hence, the primary purpose of ABC's TRACE program is to identify and investigate where persons under 21 years of age obtained alcohol and who was killed or obtained serious injury or accident.
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According to the risk management/communication framework advanced by Ratzan and Meltzer, it is important to:
According to the risk management/communication framework advanced by Ratzan and Meltzer, it is important to keep in mind that there isn't always time to create and pretest messages during a crisis.
Risk managementThe process of discovering, evaluating, and controlling risks to an organization's resources and profits is known as risk management. These dangers can be caused by a number of things, such as monetary unpredictability, legal responsibilities, technological problems, strategic management blunders, accidents, and natural calamities.
Three categories of risks are:
business, non-business, and financial risks.In an organization, risk management is crucial because, without it, it would be impossible to identify future goals. If a corporation sets goals without taking the risks into account, they are likely to lose focus once one or more of these hazards becomes real.
Risk communication is any form of communication that aims to give readers the knowledge they need to decide for themselves whether there is a risk to their health, safety, or the environment.
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A price ceiling is the maximum legal price a seller may charge for a product or service where a price at or below the ceiling is ______ and a price above the price ceiling is ______.
A price ceiling is the maximum legal price a seller may charge for a product or service where a price at or below the ceiling is legal and a price above the price ceiling is illegal.
What is price ceiling?Price ceiling is used to determine the lowest or highest price to which a product can be sold in the market.
Hence, a price ceiling is the highest legal price a seller may charge where a price of a product at or below the ceiling is legal and a price of product above the price ceiling is illegal.
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Does the manager of a licensed establishment need to obtain an rbs certification?.
Answer:
Yes
Explanation:
Every establishment planning to serve alcohol should have a rbs certification.
Why should business leaders become actively involved in community and professional organizations after they have landed a great career
Business leaders become actively involved in community and professional organizations after they have landed a great career to keep up with current information and techniques locally, regionally, and internationally.
Why do Business leaders become actively involved in the community?One of the characteristics that distinguish a profession from a regular job is membership in the appropriate professional organization. It is an essential characteristic of a professional. All professionals are expected to be members of their professional organizations. It's critical to promote the development of one's profession, and joining a professional group is a step in that direction.Developing relationships with people who share similar interests helps one remember why they picked this profession. It makes it possible for young people to network with seasoned professionals and learn from them. It's essential to join a professional association if you want to stay up to date on local, regional, and international information and practices.To learn more about Business leaders refer to:
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Suppose you have a dinner gift certificate for $20. You can use it to order meatloaf or pot roast. Meatloaf costs $12, and pot roast costs $14. Meatloaf and pot roast are both worth $15 to you. The dollar value of the opportunity cost of choosing meatloaf instead of pot roast is
Suppose you have a dinner gift certificate for $20. You can use it to order meatloaf or pot roast. Meatloaf costs $12 and pot roast costs $14. Meatloaf and pot roast are both worth $15 to you. The dollar value of the opportunity cost of choosing meatloaf instead of pot roast is $15 EX.
What Is Opportunity Cost?Opportunity costs represent the potential benefits that an individual, investor, or business misses out on when choosing one alternative over another. Because opportunity costs are unseen by definition, they can be easily overlooked. Understanding the potential missed opportunities when a business or individual chooses one investment over another allows for better decision making.
Opportunity cost is often overlooked by investors. In essence, it refers to the hidden cost associated with not taking an alternative course of action. If, for example, a company pursues a particular business strategy without first considering the merits of alternative strategies available to them, they might fail to appreciate their opportunity costs and the possibility that they could have done even better had they chosen another path.
Formula Of Opportunity Cost
Opportunity Cost=FO−CO
where:
FO=Return on best forgone option.
CO=Return on chosen option.
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Laws that built economic trust and stability Group of answer choices limit inflation. increase economic growth. guarantee businesses profit.
When laws that build economic trust and stability are enacted, they increase economic growth.
Why should laws be about economic stability?When laws are garnered toward economic stability, this gives the economy a better chance of being stable in production and other aspects.
As a result, there is a better chance of economic growth because the economy grows faster when it is stable.
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Brewer Inc. has 5,000 shares of 8%, $50 par value, cumulative preferred stock and 100,000 shares of $1 par value common stock outstanding at December 31, 2019, and December 31, 2018. The board of directors declared and paid a $15,000 dividend in 2018. In 2019, $60,000 of dividends are declared and paid. What are the dividends received by the preferred stockholders in 2019
Dividends received by the preferred stockholders in 2019 are $25,000.
What are shares?Shares signify ownership in a corporation. An individual becomes a shareholder in your business when they purchase shares. Shareholders decide who manages a corporation and participate in important decisions like whether a company should be sold.What are preferred stocks?A component of share capital known as preferred stock is often regarded as a hybrid instrument since it might have any combination of characteristics that common stock does not, including characteristics of both an equity and a debt instrument.Solution -Annual dividend paid to stakeholder = 5000\times $50\times 8% = $20,000
Dividend declared and paid in 2013 = $15,000
Preferred dividend = $20,000 -$15,000
= $5,000
No dividend will be paid to common stockholders in 2014 until all 2013 dividends and 2014 annual dividends have been paid in full, therefore there will be $60,000 in dividends declared and paid in 2014. \
Preferred stockholders will receive $5000 for the 2013 dividend and $20,000 for the 2014 dividends.
The total dividends that preferred stockholders earned in 2014 were $5,000 + $20,000 = $25,000.
Therefore, dividends received by the preferred stockholders in 2019 are $25,000.
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A buyer has a 30-year, $400,000 loan with a 7% interest rate. How much of the first month's mortgage payment is interest
The portion of the first month's mortgage payment meant for interest is $2,333.33
What is a mortgage?
Mortgage is a loan taken to acquire property which requires periodic interest payment such as monthly , semiannually or even annually.
First month interest=loan amount*annual interest rate/12
First month interest=$400,000*7%/12
First month interest=$2,333.33
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The interest in the first month's mortgage payment is $2,333.33.
How is monthly mortgage interest determined?The monthly mortgage interest can be determined using an online finance calculator that computes the monthly payment.
The payment schedule produced from the calculation shows the monthly payments classified according to interest and principal.
Data and Calculations:N (# of periods) = 360 (30 x 12)
I/Y (Interest per year) = 7%
PV (Present Value) = $400,000
FV (Future Value) = $0
Results:
PMT = $2,661.21
Sum of all periodic payments $958,035.59
Total Interest $558,035.59
SchedulePeriod PV PMT Interest FV
1 $400,000.00 $-2,661.21 $2,333.33 $-399,672.12
2 $399,672.12 $-2,661.21 $2,331.42 $-399,342.33
3 $399,342.33 $-2,661.21 $2,329.50 $-399,010.62
Thus, the interest in the first month's mortgage payment is $2,333.33.
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A law used to finance public services, such as waste treatment plants, parks, and schools, in newly developed areas, can result in extra-high taxes, in addition to the normal property taxes, and MUST be made known to any buyer before a purchase takes place. This law is:
The law is Mello-Roos Community Facilities Act of 1982.
Senator Henry Mello and the Assemblyman Mike Roos worked together in order to enact the "Mello-Roos Community Facilities Act of 1982," which authorized local governments and the developers to form Community Facilities Districts (CFDs) to issue tax-exempt bonds to fund public works.
The Mello-Roos Community Facilities Act of 1982 is a statute that is used to finance public services in newly built regions, such as waste treatment facilities, parks, and schools. This might result in additional taxes on top of the regular property taxes and must be disclosed to any buyer prior to the acquisition.
Therefore, the answer is Mello-Roos Community Facilities Act of 1982.
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All of the following statements related to bonds are correct regarding bonds except: bonds typically have a $1,000 face value. bonds represent a promise to pay a sum of money plus periodic interest. bonds arise from a contract known as a bond indenture. bonds usually pay interest annually.
All of the following statements related to bonds are correct regarding bonds except usually pay interest annually.
What does market price mean?The price at which a good or service can currently be bought or sold is known as the market price. The forces of supply and demand determine the market price of a good or service; the price at which the quantity supplied and demanded are equal is the market price.How do you find the market price?Find the point where supply and demand are equal to calculate the market price. Find the market price by investigating factors such as market trends, the quantity of suppliers, and the number of current customers.What is current price and market price?Market value is another name for the current price. It is the last traded price for a share of stock or any other security.
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Except for the fact that bonds typically pay interest annually, all of the following assertions about bonds are true.
What are bonds?Governments or businesses may issue bonds, which typically have a set interest rate. A bond's market value changes over time as it gains or loses appeal to potential buyers. Higher-quality bonds, which are more likely to be repaid on schedule, typically have lower interest rates.
When does interest generally get paid on bonds?A bond is a type of debt obligation in which the lender, or owner, is compensated with interest payments. The coupons for this interest are normally paid every six months.
Are interest payments on most bonds yearly?The majority of bonds pay interest semi-annually, which results in two payments each year for bondholders. Therefore, if you had a $1,000 face value bond with a 10% semi-annual yield, you would earn $50 (5% x $1,000) twice a year for the following ten years.
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How does the federal trade commission regulate business as an administrative agency?.
The FTC is empowered to enforce rules of trade regulation that define unfair or deceptive actions or practices in great detail and to report to and advise Congress on legislative matters related to the economy. This is further explained below.
What is the federal trade commission?Generally, The Federal Trade Commission (FTC) is a non-departmental executive body of the United States government charged with protecting consumers and enforcing federal antitrust laws.
In conclusion, The FTC is empowered to enforce laws of trade regulation that define unfair or deceptive actions or practices in great detail, and it may also report to Congress on economic matters and provide policy suggestions.
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The idea that only the most efficient workers will depart in response to a wage cut is called ________.
The idea that only the most efficient workers will depart in response to a wage cut is called adverse selection of wage cut.
What is the adverse selection of wage cut?The adverse selection of wage cuts argument points out that if an employer reduces the wages for all workers in poor business conditions, then the employment alternatives at other firms, are the most likely to leave.
The least attractive workers with very few employment alternatives, are more likely to stay in this condition.
Companies which are experiencing difficult times can pursue workers to take a pay cut for the short term, and still have most of the firm’s workers.
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Current information for the Healey Company follows: Beginning raw materials inventory $ 15,200 Raw material purchases 60,000 Ending raw materials inventory 16,600 Beginning work in process inventory 22,400 Ending work in process inventory 28,000 Direct labor 42,800 Total factory overhead 30,000 All raw materials used were direct materials. Healey Company's total manufacturing costs for the year are:
Calculation for Healey Company's total manufacturing costs for the year:-
We are given,
Beginning raw materials inventory $ 15,200Raw material purchases $ 60,000Ending raw materials inventory $ 16,600 Beginning work in process inventory $ 22,400 Ending work in process inventory $ 28,000Direct labor $ 42,800Total factory overhead $ 30,000As We Know,
Total Manufacturing Costs = Raw Materials Used + Direct Labor + Factory Overhead
Raw materials used = Beginning Raw Materials Inventory + Raw Materials Purchases - Ending Raw Materials Inventory
⇒ 15,200 + 60,000 - 16,600 = 58,600
Raw materials used = 58,600
58,600 + 42,800 + 30,000 = 131,400
Cost of goods manufactured = Beginning Work in Process + Total Manufacturing Costs - Ending Work in Process
⇒ 22,400 + 131,400 - 28,000 = $125,800
Therefore, Healey Company's total manufacturing costs for the year is $125,800
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The market value: Multiple Choice of accounts receivable is generally higher than the book value of those receivables. of an asset tends to provide a better guide to the actual worth of that asset than does the book value. of fixed assets will always exceed the book value of those assets. of an asset is reflected in the balance sheet. of an asset is lowered each year by the amount of depreciation expensed for that asset.
A) Of an asset tends to provide a better guide to the actual worth of that asset than does the book value.
How Do Assets Work?A thing that can be traded for money is called an asset. Similar to the funds in your checking account, your car is an asset.
Anything that will bring a business future financial benefits is seen as an asset. In the manufacturing industry, this could refer to machinery or intellectual property like patents.
A liability, or debt you owe, is the reverse of an asset.
What kinds of resources are there?
Clear AssetsIlliquid AssetsActual PropertyIrreducible AssetsAssets both current and long-term.Learn more about market value with the help of the given link:
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During fiscal 2016, Shoe Productions recorded inventory purchases on credit of $337.8 million. The financial statement effect of these purchase transactions would be to: Select one: a. Increase expenses (Cost of goods sold) by $337.8 million b. Increase liabilities (Accounts payable) by $337.8 million and decrease noncash assets (Inventory) by $337.8 million c. Increase liabilities (Accounts payable) by $337.8 million d. Decrease cash by $337.8 million e. Decrease noncash assets (Inventory) by $337.8 million
(C) Increase liabilities (Accounts payable) by $337.8 million.
What is inventory?Inventory, often known as stock, refers to the items and supplies that a company keeps for the purpose of resale, manufacturing, or use. Inventory management is largely concerned with establishing the shape and positioning of stocked products.What is purchasing on credit?A credit buys, sometimes known as purchasing anything "on credit," is a purchase made today that will be paid for later. When you use a credit card, for example, your financial institution pays for the products or services upfront and then collects the payments from you later.Purchase on credit refers to an increase in liabilities.Therefore, the correct option is (C) Increase liabilities (Accounts payable) by $337.8 million.
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Haitao has an espresso maker that stopped working properly within the warranty period. He plans to write a claim letter to the company. Because he feels his request to have his espresso maker repaired at no cost is justified and will be granted, he should use ________.
Haitao has an espresso maker that stopped working properly within the warranty period. He plans to write a claim letter to the company. Because he feels his request to have his espresso maker repaired at no cost is justified and will be granted, he should use the direct strategy.
What is direct strategy?The main idea and supporting evidence are placed at the top of the paper when using the direct approach. When your audience will be accepting of or receptive to your message, this strategy is used. The direct approach typically requires you to begin the official report with a summary of your primary findings, conclusions, and recommendations. For business reporting, this "up-front" arrangement is by far the most well-liked and practical. It saves time and makes it simpler to understand the remainder of the report. The direct method also results in a stronger report.
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Haitao has to use the direct strategy.
The major concept (such as a recommendation, conclusion, or request) appears at the "head" of the text when you employ the direct method, followed by the supporting details. This is a logical justification. When your audience will be accepting of or receptive to your message, this strategy is employed.
Direct strategy refers to being straightforward with your message, whereas indirect strategy is less direct yet still conveys the same idea. Direct strategy refers to being straightforward with your message, whereas indirect strategy is less direct but still gets the point across.
Hence, haitao should use the direct strategy to complete his request of his espresso maker being repaired.
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The direct write-off method is not allowed under GAAP because it violates the ______. Multiple choice question. aging principle sales method cost principle expense recognition (matching) principle revenue recognition principle
The direct write-off method is not allowed under GAAP because it violates the principle expense recognition (matching) principle.
A direct write-off is an accounting method by which uncollectible accounts received are written off as bad debts.
GAAP stands for General Accepted Accounting Principles.It is a collection of conventionally and generally accepted accounting rules and standards for financial reportage. The direct write-off method is also referred to as the direct charge-off method. Upon receiving an invoice that has been deemed uncollectible, bad debts have to be cleared off. The direct write-off method violates the principle expense recognition (matching) principle. The matching principle states that expenses need to be matched with the revenue for a given period of association.Therefore, the direct write-off method is not allowed under GAAP because it violates the principle expense recognition (matching) principle.
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An industrially developing country called Moonopia has recently begun trading at an international level. How would the United Nations classify Moonopia's stage of economic development?
An industrially developing country called Moonopia has recently begun trading at an international level. Moonopia's stage of economic development will be a less-developed country. This is further explained below.
What is economic development?Generally, Economic growth is the process through which a society improves via the accumulation of wealth. This initiative goes well beyond the typical job-creation scheme,
In conclusion, Moonopia, an industrial powerhouse in the making, has just started trading on the global stage. If you compare Moonopia to other countries, you'll see that it's economically less advanced.
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An oil cartel effectively increases the price of oil by 100% causing a shock in oil consuming countries A and B. The FED in country A takes immediate action increasing the money supply, while FED in inflationary country B does not take any action. In the long run you would expect that:
The long-term stable equilibrium is restored in both countries, but country A will continue to have higher prices than country B.
The Organization of the Petroleum Exporting Countries (OPEC) is frequently cited as an example of a cartel in the oil and gas sector. The member nations of OPEC do have market impact, albeit it is debatable whether the economic evidence proves it to be a true cartel.
Who controls the supply of oil?13 of the largest oil-exporting countries in the world make up the cartel known as the Organization of the Petroleum Exporting Countries. In order to control the price on the global market, OPEC seeks to control the oil supply.
Who owns OPEC?In Baghdad, Iraq, five nations—the Islamic Republic of Iran, Iraq, Kuwait, Saudi Arabia, and Venezuela—signed a document in September 1960 that established the Organization of the Petroleum Exporting Countries (OPEC). They were to become the Organization's founding members.
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The term ____________________ describes the proportion of deposits that the bank must hold in the form of reserves that are not loaned out or invested in bonds.
The term reserve ratio describes the proportion of deposits that the bank must hold in the form of reserves that are not loaned out or invested in bonds.
Also referred to as the Cash Reserve Ratio, it's miles the proportion of deposits that commercial banks are required to keep as coins in step with the guidelines of the significant financial institution.
A reserve requirement is an imperative bank law that units the minimal amount that a commercial financial institution should keep in liquid assets.
The requirement for the reserve ratio is determined through the central financial institution of the USA, inclusive of the Federal Reserve inside the case of the US. The calculation for a bank may be derived by means of dividing the cash reserve maintained with the valuable financial institution through the financial institution deposits, and it's far expressed in percent.
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If a U.S.-based automobile parts supplier were to apply a global mind-set to its internal analysis, it would: a. review sales data of its North American dealerships to determine its most popular vehicles. b. research the history of the invention of the car and the evolution of the automobile industry. c. find information about the transportation infrastructure in emerging automobile markets around the world, including Asia and Africa. d. study all of its internal resources with an understanding of which capabilities offer value to meet the needs of U.S., Japanese, European, and Korean automakers.
The correct option is, (d) study all of its internal resources with an understanding of which capabilities offer value to meet the needs of U.S., Japanese, European, and Korean automakers.
What will happen in theory if a company is able to align its strategy and structure?A business is debating altering its organizational structure in order to capitalize on a consumer trend. The business recognizes the potential revenue that could result from this new consumer behavior, which is very profitable.Which of the following is an example of an intangible company resource?Trademarks, goodwill, and patents are a few examples of intangible assets.Why is IT important for a company to align its IT strategy to business strategy?IT strategy and business goals should be coordinated to ensure that everyone is on the same page and working toward the same objectives.This helps to guide and inform decision-making. IT systems are more likely to be useful, well-used tools when they are chosen and implemented in accordance with an organization's strategic goal.
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Consider the monopolistically competitive market structure, which has some features of a perfectly competitive market and some features of a monopoly
A monopolistically competitive market is characterized by the following attributes: many sellers, product differentiation, and easy entry.
What is monopolistically competitive market?monopolistically competitive market serves as one that the firms in the industry are producing similar, but not perfect, substitutes products.
In this case, A monopolistically competitive market is characterized by the following attributes: many sellers, product differentiation, and easy entry.
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Consider the monopolistically competitive market structure, which has some features of perfect competition and some features of monopoly.
A monopolistically competitive market is characterized by the following attributes: many sellers, product differentiation, and ______.
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Ed has an almost-new economy car, but he wants a Ford Mustang because he thinks it would be exciting to own one. If he decides to purchase a sports car such as the Mustang, he will be primarily fulfilling a ________ need.
The answer is psychological.
In the given scenario, Ed has an almost-new economy car, but he wants a Ford Mustang because he thinks it would be exciting to own one.
Since Ed already has a car that works, he does not have a functional need for a car.
Therefore, a choice to purchase a sports car would represent a psychological need.
This shows perhaps the car makes him feel cool or adventurous.
So, this demonstrates that he will be fulfilling his mind. Consequently, fulfilling his psychological need.
Hence, If he decides to purchase a sports car such as the Mustang, he will be primarily fulfilling a psychological need.
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An individual with $32.000 in taxable income pays $970 for the 10% tax bracket, and $2,676 for the 12% bracket. What is the overall federal income tax payment for this individual?
The overall federal income tax payment of this individual is $970+$2676= $3646.
What is federal Income tax?The federal government and the majority of states in the US impose income taxes. Applying a tax rate to taxable income, which is the entire income less permissible deductions, yields the income taxes, which may arise as income rises.
So the taxable income of the individual will be $3646.
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