An economy produces three goods: cars, computers, and oranges. Quantities and prices per unit for years 2009 and 2010 are as follows:
2009 2009 2010 2010
Quantity Price Quantity Price
Cars 10 $2000 12 $3000
Computers 4 $1000 6 $500
Oranges 1000 $1 1000 $1
a. What is the nominal GDP in 2009 and in 2010? By what percentage does nominal GDP change from 2009 to 2010?
Answers
The nominal GDP increased by 60% from 2009 to 2010. The nominal GDP in 2009 can be calculated by multiplying the quantity of each good produced by its respective price and adding the results for each good.
For cars, the value in 2009 would be
10 * $2000 = $20,000
For computers, the value would be
4 * $1000 = $4,000
For oranges, the value would be
1000 * $1 = $1,000
Adding up the values for each good, the nominal GDP in 2009 would be $20,000 + $4,000 + $1,000 = $25,000.
The nominal GDP in 2010 can be calculated in the same manner.
For cars, the value in 2010 would be
12 * $3000 = $36,000
For computers, the value would be
6 * $500 = $3,000
The value of oranges would remain the same, at $1,000.
Adding up the values for each good, the nominal GDP in 2010 would be $36,000 + $3,000 + $1,000 = $40,000.
The percentage change in nominal GDP from 2009 to 2010 can be calculated by taking the difference between the two values and dividing by the value in 2009, multiplied by 100.
The change would be
($40,000 - $25,000) / $25,000 * 100 = 60%
So, nominal GDP increased by 60% from 2009 to 2010.
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Related Questions
The unadjusted trial balance of Sheridan Exposure Inc. had these balances for the following select accounts: Supplies $4,300, Unearned Service Revenue $9,250, and Prepaid Rent $1,920. At the end of the period, a count showed $960 of supplies on hand. Services of $4,100 had been performed related to the unearned revenue account, and one month’s worth of rent, worth $40, had been consumed by sheridan exposure. Record the required adjusting entries related to these events. (List all debit entries before credit entries. If no entry is required, select “No Entry” for the account titles and enter 0 for the amounts. Credit account titles are automatically indented when the amount is entered. Do not indent manually.)
Answers
No Entry is required for the Supplies, Unearned Service Revenue, and Prepaid Rent accounts since their balances have been adjusted through the adjusting entries above.
To record the required adjusting entries related to the events mentioned, we need to consider the changes in the account balances and adjust them accordingly. Here are the adjusting entries for Sheridan Exposure Inc.:
Supplies:
Debit: Supplies Expense ($4,300 - $960) = $3,340
Credit: Supplies ($4,300 - $960) = $3,340
Explanation: The supplies on hand decreased by $960, indicating that $960 worth of supplies were used during the period. Therefore, we need to recognize the expense by debiting Supplies Expense and reduce the Supplies account balance with a credit.
Unearned Service Revenue:
Debit: Unearned Service Revenue ($9,250 - $4,100) = $5,150
Credit: Service Revenue ($9,250 - $4,100) = $5,150
Explanation: Services worth $4,100 were performed, reducing the unearned service revenue. We need to recognize the revenue by debiting the Unearned Service Revenue account and crediting the Service Revenue account.
Prepaid Rent:
Debit: Rent Expense ($40)
Credit: Prepaid Rent ($40)
Explanation: One month's worth of rent, amounting to $40, has been consumed. We need to recognize the expense by debiting Rent Expense and reduce the Prepaid Rent account balance with a credit.
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2 words that ryme on the same line is called?
Answers
Answer:A couplet usually consists of two successive lines that rhyme and have the same metre. A couplet may be formal (closed) or run-on (open). In a formal (or closed) couplet, each of the two lines is end-stopped, implying that there is a grammatical pause at the end of a line of verse.
Explanation:Hoped this helped u kind sir or ma'am and have an great day! And also may i plz have brainlist?
Mandatory spending refers to programs in the U.S. federal budget that
Answers
Answer:
Mandatory spending is simply all spending that does not take place through appropriations legislation. Mandatory spending includes entitlement programs, such as Social Security, Medicare, and required interest spending on the federal debt. Mandatory spending accounts for about two-thirds of all federal spending.
Explanation:
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Work with a partner. An art collector buys two paintings. The value of each painting after t years is y dollars. Complete each table. Compare the values of the two paintings. Which painting's value has a constant growth rate? Which painting's value has an increasing growth rate? Explain your reasoning.
Answers
In general, if a painting's value increases by the same amount each year, it may have a stable growth rate, or if it increases by a bigger amount each year, it may have an increasing growth rate.
How can you compare exponential and linear functions?Review: linear growth. For both linear and exponential relationships, the y-values change in several ways when the x-values increase by a specific amount: In a linear relationship, the difference between the y-values is equal. The y-values have equal ratios in an exponential relationship.
How are the pictures created?It can be done using nearly any medium, including painting, photography, sculpture, and others. In addition to making portraits for clients, some painters also do it merely for artistic purposes.
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The United States has a market economy, or free enterprise system.
True of False
Answers
Answer:
true
Explanation:
yes United states has market economies
Explanation: The free enterprise system is an economic system in which the government only exhibits partial dominance over market-correlated decisions; communism is an economic system in which the government exhibits full dominance over market-correlated decisions. The U.S.A. acts on the free enterprise system.
I did this assignment. God bless.
Which would be a good reason for a borrower to use a Peer-to-Peer (P2P) lender?
The fees may be higher than from a depository institution.
The interest rate is higher than from a depository institution.
They may not be able to borrow money from any other source.
They will build their credit score faster than using other sources.
Answers
A good reason for borrower to use a Peer-to-Peer (P2P) lender is because they may not be able to borrow money from any other source.
What Is Peer-to-Peer (P2P) Lending?The P2P lending service is also known as “social lending” or “crowd lending. This is a form of financial technology that allows people to lend or borrow money from one another without going through a bank.
Furthermore, the service enables individuals to obtain loans directly from other individuals while cutting out the financial institution as the middleman. Now, the websites that facilitate P2P lending have greatly increased its adoption as an alternative method of financing.
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Drag each label to the correct location on the image.
Identify the features of stocks and bonds.
coupon rate
face value
closing price
maturity date
Stock
Bond
Answers
Answer:
The answer is "face value".
Explanation:
FACE VALUE was its common characteristic of stocks and bonds.
For an inventory, that original cost of stock indicated on the certification was its face value. That facial value for securities refers to the amount paid to the owner just at the expiry date.
Its book value, as well as the factor, is the distinctive function of shares, while the factor of bonds is a discount rate, duration, or factor value.
Answer:
Stock- closing price
Bond- maturity date, coupon rate, and face value
Explanation:
Got it right on the test :)
A retailer purchases merchandise with a catalog list price of $70,000. The retailer receives a 25% trade discount and has credit terms of 2/10, n/30. How much cash will be needed to pay this invoice within the discount period
Answers
If a retailer acquires goods with a $70,000 catalog list price. The sum of $51,450 in cash is required to settle this invoice during the discount period.
How much Cash is needed to pay the invoice?The first step is to use this method to determine the Price after Trade Discount.
Catalog price - trade discount = the final price.
Price after Trade Discount = $70,000 - (25% × $70,000)
Price after Trade Discount = $70,000 - $17,500
Price after Trade Discount = $52,500
Second step :
to calculate the Cash required to pay invoice using this formula
Cash required to pay invoice = Price after Trade Discount - Purchase Discount
Let plug in the formula
Cash required to pay invoice = $52,500 - (2% × $52,500)
Cash required to pay invoice = $52,500 - $1050
Cash required to pay invoice = $51,450
Therefore the amount of cash needed is: $51,450
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Slove 56 is 5 1/2% of what
Answers
For the mentioned problem, 56 is 5¹/₂ percent of 1018.08.
What is percent?In mathematics, percentage is said to be a number or ratio expressed as a fraction of 100. It is commonly represented by the percent sign '%', but abbreviations such as 'pct.', 'pct', and 'pc' may also be used. Percentages are dimensionless numbers as they have no units of measure.
Percent may be calculated by dividing the value by the total and multiplying the result by 100. The equation used to calculate the percentage is (value/total) * 100%.
For the given question:
5¹/₂% = 11/2%
11/2% of x = 56
(11/200) × x = 56
x = 56 × (200/11)
x = 1018.08
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if an item of clothing costs a manufacturer R60 to make,how much profit was made per item if 10 items were sold for R1200
Answers
Answer:
600
Explanation:
60×10=600 (this is the cost)
1200-600=600
A company uses direct labor costs as it allocation base. Management estimates the company will incur $150,000 of direct labor cost during the year and total overhead costs of $200,000. What is their predetermined overhead rate? 1.33% 133% 50% 75%
Answers
Answer:
133.33%
Explanation:
The computation of the predetermined overhead rate is shown below:
Predetermined overhead rate = Total overhead cost ÷ direct labor cost
where,
Total overhead cost is $200,000
And, the direct labor cost is $150,000
Now placing these values to the above formula
So, the predetermined overhead rate is
= $200,000 ÷ $150,000
= 1.33%
We simply applied the above formula
Submission Requirements Hurry Pls Help ASAP!!!
Nine hundred word response.
When submitting written assignments, please remember to:
Submit the assignment question(s) and your responses.
Proofread for spelling, grammar, and punctuation.
Remember complete sentence structure.
Paragraphs need to have minimum of six sentences.
Submit your E.T.H.I.C.S. model of one of the provided scenarios.
Answers
When submitting written assignments, please remember to Proofread for spelling, grammar, and punctuation. Hence, option B is correct.
What is meant by Proofread?Proofread is the double-checking of the written assignment or the work that is being already done to the person. It helps the person to identify the little mistakes that they have made during the making of the assignment.
Proofread is always a better solution to understand the work and makes the work complete and perfect. After Proofread, one can identify their mistakes and make them correct.
Thus, option B is correct.
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compare and contrast the
Central Reservation System and Property
Management System.
Answers
The Central Reservation System (CRS) and Property Management System (PMS) are both software systems used in the hospitality industry, but they serve different purposes and have distinct functionalities.
Central Reservation System (CRS):
1. Purpose: The CRS is primarily designed to manage and facilitate reservations and bookings for multiple properties or hotel chains.
2. Functionality: It provides a centralized platform to manage availability, rates, and inventory across various distribution channels, such as online travel agencies (OTAs), Global Distribution Systems (GDS), and the hotel's own website. It allows for real-time reservation processing, synchronization of rates and availability, and seamless integration with external distribution partners.
3. Key Features: The CRS typically includes features like online booking engines, channel management, rate management, reservation tracking, and reporting and analytics tools.
4. Benefits: The CRS enables efficient management of room inventory, maximizes occupancy rates, streamlines distribution processes, and provides a centralized view of reservations across properties, enhancing revenue management and customer satisfaction.
Property Management System (PMS):
1. Purpose: The PMS focuses on managing the day-to-day operations of an individual property or hotel.
2. Functionality: It handles front-office tasks such as guest check-in and check-out, room assignment, billing and invoicing, housekeeping management, guest communication, and other operational processes specific to a single property.
3. Key Features: The PMS typically includes features like reservation management, guest profiles, room inventory management, billing and accounting, housekeeping and maintenance management, reporting, and integration with other hotel systems.
4. Benefits: The PMS streamlines operational workflows, enhances guest services, improves staff efficiency, maintains accurate guest and financial records, and supports internal communication and coordination.
In summary, while the Central Reservation System (CRS) focuses on managing reservations and distribution across multiple properties, the Property Management System (PMS) is tailored for the operational management of a single property. The CRS emphasizes distribution and revenue management, while the PMS focuses on front-office operations and guest services.
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Identify the three ranges of Aggregate Supply curve. Explain the impact of an increase in the AD curve in each segment.
Answers
It should be noted that the three range of the aggregate supply curve will be the Keynesian, intermediate, and the Classical range.
The aggregate supply curve simply means the quantity of real gross domestic product that is supplied by an economy at different price levels.
The three ranges of the aggregate supply curve are the Keynesian, intermediate, and Classical ranges. In the Classical range, the economy is producing at full employment.
Typically, an increase in aggregate demand (AD) will lead to a rise in the price of the goods that are supplied.
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Break-Even Sales
BeerBev, Inc., reported the following operating information for a recent year (in millions):
Sales $6,512
Cost of goods sold $1,628
Gross profit $4,884
Marketing, general, and admin. expenses 592
Income from operations $ 4,292
Assume that BeerBev sold 37 million barrels of beer during the year, that variable costs were 75% of the cost of goods sold and 50% of marketing, general and administration expenses, and that the remaining costs are fixed. For the following year, assume that BeerBev expects pricing, variable costs per barrel, and fixed costs to remain constant, except that new distribution and general office facilities are expected to increase fixed costs by $21.09 million.
Compute the break-even sales (in barrels) for the current year. Round your answer to two decimal places. Enter your answers in millions.
Answers
The break-even sales for the current year are 32.04 million barrels, rounded to two decimal places.
First, we need to calculate the total fixed costs for the current year
Fixed costs = Total costs - (Variable costs + Cost of goods sold x Variable cost % + Marketing, general, and admin. expenses x Variable cost %)
Fixed costs = $6,512 million - ($1,628 million + $1,221 million + $296 million)
Fixed costs = $3,367 million
Next, we can calculate the contribution margin per barrel:
Contribution margin per barrel = Price per barrel - Variable cost per barrel
We don't have the price per barrel, but we can use the gross profit and the number of barrels sold to calculate the average gross profit per barrel
Average gross profit per barrel = Gross profit / Barrels sold
Average gross profit per barrel = $4,884 million / 37 million barrels
Average gross profit per barrel = $132 per barrel
Assuming variable costs per barrel remain constant, we can use the variable cost % to calculate the variable cost per barrel
Variable cost per barrel = Cost of goods sold x Variable cost % / Barrels sold + Marketing, general, and admin. expenses x Variable cost % / Barrels sold
Variable cost per barrel = $1,628 million x 75% / 37 million barrels + $592 million x 50% / 37 million barrels
Variable cost per barrel = $27.03 per barrel
Therefore, the contribution margin per barrel is
Contribution margin per barrel = $132 - $27.03
Contribution margin per barrel = $104.97
Finally, we can calculate the break-even sales in barrels for the current year
Break-even sales (in barrels) = Fixed costs / Contribution margin per barrel
Break-even sales (in barrels) = $3,367 million / $104.97 per barrel
Break-even sales (in barrels) = 32.04 million barrels
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All of the groups that have an interest in an organization's success and outcomes are known as the organization's
A) Investors
B) Agencies
C) Shareholders
D) Stakeholders
Answers
Answer:
D) Stakeholders
Explanation:
A stakeholder is any person, firm, or group that has an interest in the performance of a project, event, or institution. Stakeholders are affected in one way or another by the outcome of an event or process. For a business organization, stakeholders are the people likely to incur losses or benefits depending on its financial performance. They include employees, investors, suppliers, shareholders, the government, and management.
1 v
Next O
Workplace Legislation and Workplace Policy: Mastery Test Submit Test
Tools
elect the correct answer from each drop-down menu.
ourteen-year old Eric wants to work during his school vacation. What time limits would apply to Eric on normal days to take up any work?
Eric may only work between 7 a.m.
and 7pm.
during his school vacation.
THIS IS NOT A QUESTION THIS IS THE ANSWER TO INTRO TO ENTREPRENEURSHIP SEM 2
Answers
The time limits that will apply to Eric will be limited to only work between 7 a.m. and 7 p.m. during his school vacation.
What is a time limit in Workplace Legislation?This legislation outlines the appropriate and favorable time that employees is allowed to work at the employer's service.
Here, based on general practice, the time limits that will apply to Eric will be limited to only work between 7 a.m. and 7 p.m. during his school vacation.
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Which of the following forms of sex-related conduct does each of the example represent ?
Answers
Sexual Harassment is a behavior. It is defined as unwelcome behavior of a sexual nature.
The variety of behaviours that people, creatures, systems, and artificial things exhibit in a given context is referred to as behaviour. These systems may consist of both the inanimate physical world and other systems or species.
Behaviour is an individual's actions. It is what a person does to bring about, bring about change, or to maintain the status quo. Behaviour is a reaction to internal events, such as thoughts and feelings. externally: the surrounding area, which includes other people.
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A periodic system of inventory:
A. reduces record keeping.
B. increases record keeping.
C. increases the cost of maintaining inventory.
D. eliminates the need for a physical count.
Answers
Answer:
A. reduces record keeping.
Explanation:
A periodic system of inventory can be defined as a method of financial accounting, that typically involves updating informations about an inventory on a periodic basis (at specific intervals) as the sales or purchases are being made by the customers, through the use of either an enterprise management software applications or a digitized point-of-sale equipment.
Hence, a periodic system of inventory reduces record keeping because there's no continuous records in real-time of the amount of inventory sold or purchased by the customers.
5. How do coordination structures help organize and measure the whole community's capabilities?
O A. Location where decisions are made
OB. Reduce access to response resources
O C. Facilitate problem solving
O D. Prevents individual entities from pre-incident coordination
.
Answers
Coordination structures help organize and measure the whole community's capabilities by facilitating problem-solving.
It should be noted that coordination structures are vital in organizing the capabilities of the community and measuring them.Also, it's vital in ensuring that there are response efforts that are organized In order to address different risks which are based on the governing structures and demographics.Therefore, it's necessary for facilitating problem-solving.In conclusion, the correct option is C.
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Furniture purchased from Kailash for Rs. 6,000.
Answers
Answer:
What's the question or is this a statement?
Explanation:
?
On March 12, a company provides services on account to an individual Hospital for $9,100, terms 2/10, n/30. An individual does not pay for services until March 31, missing the 2% sales discount.
Required:
For an individual Hospital, record the purchase of services on account on March 12 and the payment of cash on March 31.
Answers
To record the transactions with the individual hospital company, the following journal entries are made:
Journal Entries:March 12: Debit Accounts Receivable $9,100
Credit Services Revenue $9,100
To record the sale of services on terms 2/10, n/30.March 31: Debit Cash $9,100
Credit Accounts Receivable $9,100
To record the receipt of cash in full settlement.Transaction Analysis:March 12: Accounts Receivable $9,100 Sales Revenue $9,100
Terms 2/10, n/30
March 31: Cash $9,100 Accounts Receivable $9,100
Thus, the journal entries for the customer do not require the recognition of the 2% sales discount since the customer could not pay within the discount window.
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Provide an argument for how Coke's disastrous marketing campaign for New Coke might actually have been a good thing for the company's core product.
Answers
the pros and cons of using a credit card, checking account, and debit card.
Answers
Credit card and debit card
PROS
You have digital moneyYou have digital moneyYou can buy things onlineCONS
You have to go to the bank to take money outSomeone can hack your card and take your moneyWhat is the multiplier when the change in equilibrium level of real GDP in the aggregate expenditures model is 9, and change in autonomous aggregate expenditures is 3?
Answers
When the change in equilibrium level of real GDP equals 9 and change in autonomous aggregate expenditures equals 3, then, the multiplier will be 3.
Multiplier helps to measures how much a changes is in response to a change in other variable.
Given Information
Change in equilibrium level of GDP = 9
Change in autonomous expenditure = 3
The formula to be deployed is Multiplier = {Change in equilibrium level of GDP / Change in autonomous expenditure}
Multiplier = (9 /3)
Multiplier = 3.
Therefore, when the change in equilibrium level of real GDP in the aggregate expenditures model is 9 and the change in autonomous aggregate expenditures is 3, then, the multiplier will be 3.
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Who must report goods for export?
Answers
Answer:
exporters,carriers and custom service providers
Explanation:
the following classes of persons are required to report goods that are exported:
(a) exporters;
a person, country, or company that sends goods or services to another country for sale.
(b) carriers; and
a person or thing that carries, holds, or conveys something.
(c) customs service providers.
Customs clearance for goods is handled by a customs broker, who also makes sure that all import/export laws are followed.
6.
Question 6
Please state which of the below concepts describe how well a market offering fulfills customer needs.
1 point
Brand feelings
Brand imagery
Brand salience
Brand performance
Answers
Answer:
Brand performance
Explanation:
Brand performance is the concept that compares and contrasts the goals a brand sets and how it meets those targets.
Therefore, brand performance is the concept that describe how well a market fulfills customers needs.
The answer is D
A customer has requested that Byrd Corporation fill a special order for 9,000 units of product S51 for $20.50 a unit. Product S51's normal unit product cost is $14.40: Direct materials $ 3.10 Direct labor 1.50 Variable overhead 6.40 Fixed overhead 3.40 Unit product cost $ 14.40 The customer would like modifications made to product S51 that would increase the variable costs by $5.00 per unit and that would require an investment of $36,000 in special molds that would have no salvage value. The annual financial advantage (disadvantage) for the company as a result of accepting this special order should be: _______
Answers
Answer:
Effect on income= $4,500 increase
Explanation:
Giving the following information:
Special offer: 9,000 units of product S51 for $20.50 a unit.
Direct materials $ 3.10
Direct labor 1.50
Variable overhead 6.40
The customer would like modifications made to product S51 that would increase the variable costs by $5.00 per unit and that would require an investment of $36,000 in special molds that would have no salvage value.
Because it is a special offer, we will not have into account the fixed costs.
Unitary variable cost= 3.1 + 1.5 + 6.4 + 5= $16
Investment= 36,000
Effect on income= 9,000* (20.5 - 16) - 36,000
Effect on income= 40,500 - 36,000
Effect on income= $4,500 increase
The following information is available for Sandhill Co.
Accounts receivable $3,500
Cash $6,300
Accounts payable 4,800
Supplies 3,880
Interest payable 500
Unearned service revenue 910
Salaries and wages expense 4,700
Salaries and wages payable 800
Notes payable 31,000
Depreciation expense 670
Common stock 57,000
Equipment (net) 110,700
Inventory 2,970.
Required:
Using the information above, prepare a balance sheet as of December 31, 2022.
Answers
The total balance sheet value for Sandhill Co as of December 21, 2022 is $162,270
What is a balance sheet?It is a statement of the assets, liabilities, and capital of a business or other organization at a particular point in time, detailing the balance of income and expenditure over the preceding period.
Sandhill Co
Preparation of balance sheet as of December 31, 2022.
Fixed Assets
Equipment (net) $110,700
Current Assets
Accounts receivable $3,500
Cash $6,300
Inventory $2,970
Supplies $3,880
Total Assets $162,270
Current Liabilities
Accounts payable $4,800
Interest payable $500
Notes payable $31,000
Unearned service revenue $910
Salaries and wages payable $800
Financed by:
Common stock $57,000
Balancing figure $67,260
Total Liabilities $162,270
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is it ethical or unethical to cheat on your taxes? Explain why or why not Are the children who were aware of the cheating scheme purely victims in this situation, or should they also be considered unethical? Explain your answer using one of the four approaches to deciding ethical dilemmas.
Answers
Based on the uses of taxes, it is unethical to cheat on your taxes because it hampers government services.
The children who were aware of the cheating scheme should be treated as victims instead of being considered unethical.
This can be explained through the approach to decisions on ethical dilemmas known as the the consequence approach.
Why should we pay taxes?The government needs our taxes to take care of the nation. Those taxes enable the government to build roads, pay police people and defend the nation. Cheating on taxes is therefor unethical and unfair.
Essentially, going by the consequence approach to Ethical dilemmas, the consequences of not paying taxes should be considering. When we don't pay taxes, the government takes care of the nation less.
Children who are aware of a guardian or parent cheating on their taxes should be treated as victims. They are too young to know the effects of cheating on taxes and might have been manipulated by the those involved in the cheating scheme.
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