Answer
Kindly check explanation
Explanation:
Given the following :
Sample mean (m) = 6.5
Samole standard deviation (s) = 1.5
α = 0.10
Sample size (n) = 36
μ = 6
Null : μ ≤ 6
Alternative : μ > 6
Decision region:
If Tstatistic > tα, n - 1 ; reject Null
One tailed test (right tail)
Tstatistic (t) :
(m - μ) / s/√n
(6.5 - 6) / 1.5/√36
0.5 / 0.25
= 2
tα, n - 1 = t0.1,35 ; from t table ; = 1.306
If Tstatistic > tα, n - 1 ; reject Null
2 > 1.306 ; hence reject Null
The following trial balance relate to Lubuto company at 31 March 2022
K’000 K’000
Plant and Equipment at cost (iii) 155,500
Accumulated amortisation/ depreciation at 1 April 2021
Right of use asset 25,000
Plant and Equipment 43,500
Right of use – leased property at cost 100,000
Bank interest 900
Administration expenses 36,800
Distribution costs 33,500
Cost of sales 290,600
Loan note interest and dividends paid (notes(iv) and(v) 13,380
Revenue 490,000
Inventories at 31st March 2022 61,000
Trade received 63,000
Trade payables 32,200
Bank 5,500
Equity shares of 25ngwee each (notes ii) 56,000
Share premium 25,000
Retained earnings at 1 April 2021 26,080
5% convertible loan note (note iv) 50,000
Current tax note (vi) 3,200
Deferred tax (note (vi) 4,600
757,880 757,880
The following notes are relevant:
(i) Revenue includes and amount of K20 million for cash sales made through Lubuto
co’s retail outlets during the year on behalf of francis. lubuto Co, acting as agent, is
entitled to a commission of 10% of the selling price of these goods. By 31st March
2022, Lubuto Co had remitted to Francis K15million ( of the K20 million sales) and
recorded this amount in cost of sales
(ii) On 1st August 2021, Lubuto Co made a fully subscribed rights issue of equity share
capital based on two new shares at 60 ngwee each for every five shares held. The
issue has been fully recorded in the trial balance figures.
(iii) Plant and equipment is depreciated at 12.5% per annum on the reducing balance
basis. Leased property was purchased 20yrs ago and depreciation is charged on
straight line. All amortisation and depreciation of non-current assets is charged to cost
of sales.
(iv) On 1 April 2021, Lubuto co issued a 5% K50 million convertible loan note at par.
Interest is payable annually in arears on 31 March each year. The loan note is
redeemable at par or convertible into equity shares at the option of the loan note
holders on 31 March 2024. The interest on an equivalent loan note without the
conversion rights would be 8% per annum. The present values of K1 received at the
end of each year, based on discount rates of 5% and 8% are:
5% 8%
End of year 1 0.95 0.93
2 0.91 0.86
3 0.86 0.79
(v) An equity dividend of 4ngwee per share was paid on 30 May 2021 and, after the
rights issue, a further dividend of 2 ngwee per share was paid on30th November 2021.
(vi) The balance on current tax represent represents the under/over provision of the tax
liability for the year ended 31st March 2021. A provision of K28 million is required
for current tax for the year ended 31st March 2022 and at this date the deferred tax
liability was assessed at K8.3 million.
Required
(a) Prepare the statement of profit or loss for Lubuto for the year ended 31st March 2022.
(12marks)
(b) Prepare the statement of financial position for; Lubuto for the year ended 31 March 2022,
Statement of profit or loss for Lubuto for the year ended 31st March 2022:
Revenue K490,000
Less: Commission to Francis (1.5M) [Note (i)]
Net revenue 488,500
Cost of sales 306,100
Opening inventory 75,000
Add: Purchases 290,600
Less: Closing inventory (61,000)
Gross profit 182,400
:
Administration expenses (36,800)
Distribution costs (33,500)
Depreciation - Plant and Equipment (21,719) [Note (iii)]
Depreciation - Right of use asset (5,000)
Amortisation - Right of use - leased property (14,500)
Bank interest (900)
Loan note interest and dividends paid (13,380) [Note (iv)]
Profit before tax 57,601
How to explain the statement of financial positionStatement of financial position for Lubuto for the year ended 31st March 2022:
Explanation:
Non-current assets:
Plant and equipment at cost 155,500
Less: Accumulated depreciation (43,500)
Net plant and equipment 112,000
Right of use asset 20,000 [Note (iii)]
Right of use - leased property at cost 100,000
Less: Accumulated amortisation (14,500)
Net right of use - leased property 85,500
5% convertible loan note 50,000 [Note (iv)]
Total non-current assets 267,000
Current assets:
Inventories 61,000
Trade receivables 63,000
Bank 5,500
Total current assets 129,500
Total assets 396,500
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Give account of the political argument against outsourcing practiced by US firms.
Answer:
The political argument against outsourcing practiced by U.S. firms can be summarized in three arguments:
Explanation:
The trade balance argument: this factor is both economic and political, and those who agree with it argue that outsourcing contributes to the decline of American exports while raising the amount of imports at the same time, since those goods and services produced abroad by outsourcing have to be imported to the U.S. if they are to be consumed by American consumeres.
The American worker argument: outsourcing creates a job loss in the U.S. that affects American workers, specially those without a tertiary education. Those who agree with this argument state that outsourcing increases economic inequality, urban decay, rates of mental disease and drug use, and so on.
The national security argument: this argument applies to specific industries like the weapon industry or pharmaceutical. Supporters of this argument say that there are several industries and economic sectors that should not be outsourced on the basis of national security.
Dwight Donovan, the president of Munoz Enterprises, is considering two investment opportunities. Because of limited resources, he will be able to invest in only one of them. Project A is to purchase a machine that will enable factory automation; the machine is expected to have a useful life of five years and no salvage value. Project B supports a training program that will improve the skills of employees operating the current equipment. Initial cash expenditures for Project A are $106,000 and for Project B are $46,000. The annual expected cash inflows are $27,252 for Project A and $12,761 for Project B. Both investments are expected to provide cash flow benefits for the next five years. Munoz Enterprises’ desired rate of return is 8 percent. (PV of $1 and PVA of $1) (Use appropriate factor(s) from the tables provided.)
Required
Compute the net present value of each project. Which project should be adopted based on the net present value approach?
Compute the approximate internal rate of return of each project. Which one should be adopted based on the internal rate of return approach?
What is the Net Present Value for project A and project B?
Project A?
Project B?
The project that should be adopted based on the net present value is project B.
The project that should be adopted based on the internal rate of return is project B.
Which projects should be adopted?Net present value is the present value of after-tax cash flows from an investment less the amount invested. Internal rate of return is the discount rate that equates the after-tax cash flows from an investment to the amount invested
The decision rule when using the internal rate of return and the net present value is to undertake the project if the internal rate of return and net present value.
NPV and IRR can be calculated using a financial calculator:
Project A:
Cash flow in year 0 = $-106,000
Cash flow in year 1 - 5= $27,252
I = 8 %
NPV = $2,809.33
IRR = 9%
Project B:
Cash flow in year 0 = $-46,000.
Cash flow in year 1 - 5= $12,761
I = 8 %
NPV = $4,950.97
IRR = 12%
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List a minimum of four reasons why you might be rejected for a job offer.
Answer:
1. You don't have enough experience for the job.
2.There was a better candidate for the job.
3.You didn't take an interview seriously.
4.Your not professional enough.
5.You might have a criminal record and this job you are applying for doesn't want someone with a bad record.
6.You don't have any recommendations.
7.Your previously bosses say that you aren't a good employee.
8.You aren't punctual. (on time)
You misidentified the post for which you applied. You made a horrible first impression. You lack the necessary experience for the position. A better applicant was available for the position.
What are the methods of accepting and rejecting Job offers ? You weren't serious about the interview. You lack professionalism. This job you are seeking for might not want someone with a criminal record since you might have one. You lack any recommendationsAccept the job:
There are many different ways to accept a job, and frequently, people do so because they are attracted to the conditions that the employer is offering, such as the pay or the work schedule.
The ideal technique to accept it is in person, outlining what you anticipate from the business and expressing gratitude for the chance.to cooperate with them
Reject the position:
A lot of people turn down jobs due to unstable economic conditions, negative company references, demanding schedules, or a counteroffer from another employer.
The ideal method to turn down a job is to send an email explaining why you can't do it without getting into too much detail, without using many words, or in a stilted, official manner.
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Reggie, who is 55, had AGI of $35,200 in 2022. During the year, he paid the following medical expenses:
Drugs (prescribed by physicians)
Marijuana (prescribed by physicians)
Health insurance premiums-after taxes
Doctors' fees
Eyeglasses
Over-the-counter drugs
$ 570
1,470
1,280
1,320
445
270
Required:
Reggie received $570 in 2022 for a portion of the doctors' fees from his insurance. What is Reggie's medical expense deduction?
Reggie's medical expense deduction is $7,276.
AGI, or adjusted gross income, is a person's total income minus certain deductions and is used to calculate taxable income.
Reggie, who is 55 years old, had an AGI of $35,200 in 2022. During the year, he incurred the following medical expenses:
Drugs (prescribed by physicians): $5,701
Marijuana (prescribed by physicians): $1,470
Health insurance premiums-after taxes: $1,280
Doctors' fees: $1,320
Eyeglasses: $445
Over-the-counter drugs: $270
Reggie was reimbursed $570 by his insurance company for a portion of the doctors' fees. To calculate his medical expense deduction, we first need to subtract any reimbursements from his total medical expenses.
Total medical expenses: $5,701 + $1,470 + $1,280 + $1,320 + $445 + $270 = $10,486
Reimbursements: $570
Medical expenses after reimbursements: $10,486 - $570 = $9,916
To claim a medical expense deduction, the expenses must exceed a certain percentage of AGI, which varies depending on the taxpayer's age. For taxpayers who are 65 or younger, the threshold is 7.5% of AGI. For taxpayers who are over 65, the threshold is 7%.
Since Reggie is 55 years old, the threshold is 7.5% of his AGI or $35,200 x 0.075 = $2,640.
Therefore, Reggie can deduct the portion of his medical expenses that exceed $2,640.
Amount of medical expenses that exceed the threshold: $9,916 - $2,640 = $7,276
Therefore, Reggie's medical expense deduction is $7,276.
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Question 7 of 10
Business health insurance plans are
A. required
B. varied
C. non-existent
D. uniform
so
PLEASE HELP!! Retirement plans-
Under what circumstances is it better to be taxed later(when you retire and draw money from your account) instead of now?
Answer:
Though retirement may seem far off, saving for it as early as possible will ensure you have enough money to get you through your retirement years. In addition, investing benefits from compounding returns, which will increase your money more over a longer period of time.
Blank and blank is another word for networking
your company will need a business plan in order to do what?
A. Increase revenue.
B. Identify an opportunity.
C. Pay taxes.
D. Get funding.
Answer: D. Get Funding
Explantion: You company will need a business plant in order to get funding because you'd need to present your investors with the future of your business and what it's there to do. I also happened to take the assessment and it was marked correctly.
I hope this helped!
Good luck <3
Your company will need a business plan in order to get funding. Hence, the correct answer is option D.
What is a business plan?A business plan is a formal document that outlines a company's goals, strategies, and projected outcomes. One of the primary reasons for creating a business plan is to secure funding from investors or financial institutions. By presenting a well-written and comprehensive business plan, a company can demonstrate its viability and potential for success, which can increase its chances of obtaining the necessary funding to start or grow the business.
While a business plan can help a company increase revenue and identify opportunities, those outcomes are not the primary purpose of a business plan. Paying taxes is a legal requirement for all companies, but a business plan is not directly related to tax obligations.
Therefore, a company will need a business plan in order to get funding. Hence, the correct answer is option D.
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Rebecca Bennett is an 8-year-old who was recently diagnosed with diabetes mellitus. She is hospitalized with diabetic ketoacidosis, and she is beginning to learn about the disease process. Her parents are with her continually. She has an identical twin sister who is staying with her maternal grandparents.
Mrs. Bennett is concerned that Rebecca’s sister will also develop diabetes. Based on the preceding information, an acceptable response for the nurse to make would be to:________.
a. reassure the parents that the disease is not contagious.
b. discuss the hereditary and viral factors of type 1 diabetes.
c. discuss the hereditary factors of type 1 diabetes.
d. discuss the viral factors of type 1 diabetes.
Answer:
C
Explanation:
How can the federal reserve influence the interest rate on credit cards?
A. By shutting down credit card companies that set rates too high.
B. By raising taxes on companies that provide high-interest credit cards.
C.By adjusting the discount rate banks pay to borrow.
D.By setting up federal credit card companies with low rates.
Answer:
C. By adjusting the discount rate banks pay to borrow
Explanation:
A P E X
The federal reserve can influence the interest rate on credit cards by raising taxes on companies that provide high-interest credit cards. Thus, option B is appropriate.
The American financial system's heart is the Federal Reserve System. After a string of financial panics prompted the need for centralized supervision of the monetary system to prevent financial crises, it was established on December 23, 1913, following the passage of the Federal Reserve Act.
Banks and other lenders' interest rate-setting processes are influenced by Federal Reserve decisions. To finance anything from a car or home to your purchases using a credit card, higher Fed interest rates equate to more expensive borrowing charges.
Thus, option B is correct.
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A company that recently lost patent protection for a product may see an increased threat from which forces? g
Answer:
Threat of SubstitutesThreat of New entrants/ CompetitorsExplanation:
This question relates to Porter's five forces.
A patent on a good protects that good from being able to be copied or produced by other companies.
Should a company lose this protection, companies will be allowed to make substitutes to the products without running afoul of the law. The company will therefore face an increased threat from Substitutes.
Other companies will also be able to produce the goods or offer the services now which would mean that new entrants/ competitors can come into the market for that good or service.
7. The company utilizes a storage facility on the other side of town. The landlord, as part of an inducement to the company, has agreed to delay the December cash payment for use until January 15th of next year. The company signed a monthly rental agreement of $2,000 per month on December 1st
1. This delayed payment for the December Rent till January requires an adjusting entry.
An adjusting entry brings the accounting records to correspond with the accrual basis of accounting.
2. The adjusting entry is an accrual because the cost is incurred for December this year.
3. Rent Expenses will be debited, while Rent Payable (a liability account) will be credited for this adjusting entry.
What is an adjusting entry?Adjusting entries are made in the accounting records at the end of the period to ensure that non-cash transactions are recorded.
Some of the adjusting entries include:
Accrued expenses and revenuePrepayments and advanced receiptsDepreciation adjustments.Adjusting Journal:Debit Rent Expenses $2,000
Credit Rent Payable $2,000
Transaction Analysis:Rent Expenses $2,000 Rent Payable $2,000
Thus, delaying the cash payment for using a storage facility does not mean accounting will not recognize the expense for the year. Instead, the transaction requires an adjusting entry.
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Question Completion:1. Will this transaction require an adjusting entry? Why?
2. Is it an accrual or deferral, and give your justification?
3. What accounts will be debited and credited for this entry?
Using the graphing function on your calculator, find the solution to the system
of equations shown below.
OA. More than 1 solution
B. x = 12, y = 3
OC. x = -8, y = 2
O D. No solution
3y-12x = 18
2y-8x = 12
There is no solution of these two equations. Option D.
To solve this system of equations graphically, we need to plot the two lines represented by each equation on the same coordinate plane and find the point where they intersect.
To graph these lines, we can first write each equation in slope-intercept form (y = mx + b) by solving for y:
3y - 12x = 18 --> 3y = 12x + 18 --> y = 4x + 6
2y - 8x = 12 --> 2y = 8x + 12 --> y = 4x + 6
We can see that both equations have the same slope of 4 and y-intercept of 6, which means that they are parallel lines and do not intersect.
Therefore, there is no solution to this system of equations.the two lines are parallel and do not intersect at any point, which confirms that there is no solution to this system of equations.Therefore, the answer is (D) No solution.
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Note: It is a mathematics question.
What actions where required by GMC company to do business in in other countries?
GMC Company was obliged to take certain steps in order to conduct business in other nations. It is typical for businesses to take a number of steps in order to grow their business.
As well as carrying out market research to discover possible possibilities and difficulties, forming alliances with nearby companies, abiding by local rules and regulations, acquiring required permits and licenses, and customizing their goods and services to suit regional preferences.
Businesses may also need to take into account logistical difficulties like shipping and transportation as well as linguistic and cultural variations. It is crucial for companies to have a thorough strategy for conducting business abroad as well as a firm understanding of the local market.
As a result, the significance of the actions were required by GMC company to do business in other countries are the aforementioned.
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A means of payment is a way of ___.
settling a debt
buying a money market fund
becoming rich
making a deposit into a bank
trading items with other people
A means of payment is a way of settling a debt.
Evaluating the possible positive and negative outcomes of different
economic decisions is called:
A. marginal cost analysis.
B. cost-benefit analysis.
C. revenue projection analysis.
D. opportunity cost analysis.
Answer:
marginal cost analysis
)A stock is expected to pay a dividend of $1 per share in two months and in five months. The stock price is $50, and the risk-free rate of interest is 8% per annum with continuous compounding for all maturities. An investor has just taken a short position in a six-month forward contract on the stock. The forward contract is initiated today.
(1) the forward price of the forward contract is $_____ (保留四位小数)
(2) the initial value of the forward contract is $_____ (保留四位小数)
(3) Three months later, the forward price of the stock is 47.9699 for the same forward contract and the risk-free rate of interest is still 8% per annum. The value of the short position in the forward contract is $_____(保留四位小数)
examples when demand may have got out of a hand?
Answer:
Recall, that we represent economic laws and theory using models; in this case we can use a demand schedule or a demand curve to illustrate the Law of Demand. The demand schedule shows the combinations of price and quantity demanded of apples in a table format. The graphical representation of the demand schedule is called the demand curve
When graphing the demand curve, price goes on the vertical axis and quantity demanded goes on the horizontal axis. A helpful hint when labeling the axes is to remember that since P is a tall letter, it goes on the vertical axis. Another hint when graphing the demand curve is to remember that demand descends.
The demand curve reflects our marginal benefit and thus our willingness to pay for additional amounts of a good. It makes sense that our marginal benefit, or willingness to pay for a good, would decline as we consume additional units because we get less additional satisfaction from each successive unit consumed. For example, at lunch time you decide to buy pizza by-the-piece. You'd be willing to pay a lot for that first piece to satisfy your hunger. But what about the second piece? Perhaps a little less. If we keep considering each additional piece, we might ask what the 3rd, 4th or 5th piece is worth to you. By that point, you'd be willing to pay less, perhaps much less. The law of demand and our models illustrate this behavior.
Explanation:
Explain what is meant by the saying that consumers "vote" with their dollars every time they buy products in the marketplace
What is meant by means of pronouncing that consumers "vote" with their greenbacks every time they purchase merchandise inside the marketplace when purchasers purchase something, they send a message to companies regarding their shopping for preferences, helping to direct use resources
The definition of a consumer is a person that buys goods and services. An instance of the customer is someone who purchases a brand new tv. A heterotrophic organism feeds on different organisms in a meal chain.
The consumer is the only one who's the end-person of any items or offerings. Any person, aside from the consumer who buys the product or offerings, and consumes the product via taking his/her permission is categorized as a customer.
Consumers represent the top trophic stages. not like producers, they can't make their personal food. To get electricity, they eat vegetation or different animals, even as some devour each. Scientists distinguish between numerous forms of customers. primary clients make up the second one trophic degree.
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How do barriers to entry affect firms in a monopoly market structure?
a.) They limit the price that established firms can set.
b.) They promote competition among firms.
c.) They inhibit economies of scale from developing.
d.) They protect the profits of the established firm.
Ireland reports the following international transaction information. (in ⬠millions) Exports of goods 79,186 Imports of goods 45,765 Exports of services 33,573 Imports of services 46,216 Income received from abroad 28,456 Income payments to abroad 51,571 Unilateral transfers 440 (is positive) Using the information, Ireland's current account balance is:________. a. â¬1,897 million b. -â¬1,897 million. c. â¬44,333 million d. -â¬44,333 million
Answer:
Current account balance= - 1,897 millions
Explanation:
Given:
Exports of goods = 79,186
Imports of goods = 45,765
Exports of services = 33,573
Imports of services = 46,216
Income received from abroad = 28,456
Income payments to abroad = 51,571
Unilateral transfers = 440
Find:
Current account balance
Computation:
Current account balance = Exports of goods + Exports of services - Imports of goods - Imports of services + Income received from abroad + Unilateral transfer - Income payments to abroad
Current account balance = 79186 - 45765 + 33573 - 46216 + 28456 - 51571 + 440
Current account balance= - 1,897 millions
Why does the bank generally print the address of the check writer on the upper left-hand corner of the check?
Maria V. Bowen’s Check for $42.92 is dated March 6, 2019. Pay to the order of Credit Card Company.
A. To prevent people from bouncing a check (i.e., a NSF transaction)
B. To contact the check writer if a check bounces.
C. To advertise its products on the front of a check.
D. To prevent people from stealing checks.
To contact the check writer if a check bounces the bank generally print the address of the check writer on the upper left-hand corner of the check.
Option B is correct
The bank generally prints the address of the check writer on the upper left-hand corner of the check to be able to contact the check writer if a check bounces or is returned due to non-sufficient funds (NSF). By having the check writer's address on the check, the bank can contact the check writer to inform them that the check bounced and to try to resolve the issue.
This also helps the bank to verify the identity of the check writer and to prevent check fraud.
Option B is correct
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t the end of the current year, the following information is available for both Pulaski Company and Scott Company. Pulaski Company Scott Company Total assets $ 2,276,500 $ 1,145,500 Total liabilities 882,500 576,500 Total equity 1,394,000 569,000 Required: 1. Compute the debt-to-equity ratios for both companies. 2. Which company has the riskier financing structure?
Answer:
0.63
1.01
Scott company
Explanation:
Debt to equity ratio is an example of solvency ratio.
Solvency ratios measure a firms ability to honour its long term financial obligation
The higher the debt to equity ratio, the higher the financial risk and the weaker solvency is
Debt to equity ratio = total liabilities to equity ratio
Pulaski Company : 882,500 / 1,394,000 = 0.63
Scott company : 576,500 / 569,000 = 1.01
Someone who is applying for a loan from a bank can expect the bank to: O A. investigate the person's parents to see if they were financially responsible B. demand that the person close all of his or her accounts at competing banks C. request proof that the person who graduated from a good college. D. check the person's credit history to make sure he or she pays debts on time, SU
Answer:D
Explanation:
Just got it right on A P E X
Which of the following is an example of earned income?
A.
A paycheck you receive for work you have done
B.
Interest on money you lent to a friend
C.
A gift of money from a friend or family member
D.
Money you receive from a company you invested in
Barraza Corporation uses a weighted-average process costing system. Barraza has two direct materials. One of these materials is added at the beginning of the production process. The other material is added when processing is 50% complete. When will the equivalent units of production for these two materials be equal?
A. when processing on beginning work in process is less than 50% complete at the start of the period.B. when processing on beginning work in process is more than 50% complete at the start of the period.C. when processing on ending work in process is over 50% complete.D. when processing on ending work in process is less than 50% complete.
Answer:
Barraza Corporation
The equivalent units of production for these two materials will be equal when:
C. when processing on ending work in process is over 50% complete.
Explanation:
The reason for this option is that one of the two materials is added at the beginning of the production process, and the other is added when processing has reached 50% completion. Therefore, their equivalent units will become equal when processing on ending work in process is over 50% complete. By that time, 100% of each material would have been added.
Yesteryear Productions pays no dividend at the present time. The company plans to start paying an annual dividend in the amount of $0.40 a share for two years commencing four years from today. After that time, the company plans on paying a constant $0.75 a share annual dividend indefinitely. How much are you willing to pay to buy a share of this stock today if your required return is 11.6 percent?
a. $3.78
b. $4.22
c. $4.37
d. $4.71
e. $4.98
Answer:
b. $4.22
Explanation:
The computation of the price that willing to pay is shown below:
But before that we need to do the following calculations
Terminal value at year 5 is
= 0.75 ÷ 0.116
= 6.46552
Now
Total cash flow is
= 6.46552 + .40
= 6.86552
And finally
Present value =(PVF at 11.6%,4 × D4 ) + (PVF at 11.6%,5 × CF5)
= (0.64468 × 0.40) + (0.57767 × 6.86552)
= 0.2579+ 3.9660
= $4.22
Hence, the correct option is b.
List the major influences on business buyer behavior. Why is it important for the B-to-B marketer to understand these major influences?
Some of the major influences on business buyer behavior are environmental, organizational, interpersonal & individual factors. It is important for B-to-B marketer to understand the major influences to allow them recognize the needs of the business buyer.
What is the meaning of business buyer behavior?In marketing, a business buyer behaviour means those intent and behaviour shown by companies and employees into making purchases for the organization. The concept of business buying behaviour helps in understanding the needs and wants of a business and making appropriate purchases which ultimately help a company to derive profits.
Most time, the business buyers behaviours are influenced heavily by factors in the current and expected economic environment such as the level of primary demand, the economic outlook and the cost of the money. When an economic uncertainty rises, most of the business buyers cut back their new investment and attempt to utilize their inventories.
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2. Ernesto purchased a used car for $6800. He paid 64% sales tax. How much tax did he pay?