Question
:Answer all questions correctly. 33.Monthly labor market reports issued by the Bureau of Labor Statistics primarily are based upon: (a) initial claims for unemployment insurance
:Answer all questions correctly.
33.Monthly labor market reports issued by the Bureau of Labor Statistics primarily are based upon:
(a) initial claims for unemployment insurance reported by the 50 states;
(b) the National Income and Product Accounts; (c) an Establishment Survey and a Household Survey;
(d) data collected by each of the 12 Federal Reserve Banks.
34.In recent years, the labor force participation rate in the United States is closest to:
(a) 45%;
(b) 65%;
(c) 85%;
(d) 90%.
35.The top chemist for an industrial company loses her job because the company goes out of business. This chemist is now teaching high school chemistry. We might say that she is:
(a) under-employed;
(b) a discouraged worker;
(c) only marginally-attached to the labor force;
(d) structurally unemployed.
36. Which of the following puts a virtual floor under the unemployment rate (a level below which it is unlikely to fall)? (a) there will always be cyclical unemployment;
(b) there always will be unemployment among children;
(c) there always will be discouraged workers;
(d) there always will be "structural" unemployment (frictional plus structural unemployment).
37. Rising income inequality exacerbates rising wealth inequality partly because individuals with relatively higher incomes:
(a) almost always pay less in taxes than individuals with relatively lower incomes;
(b) tend to save more than their lower-income neighbors and can earn more non-wage and salary income;
(c) tend to live predominantly in low-cost areas of the country;
(d) tend to have more children than their lower-income counterparts who can contribute the their family's well-being.
38. Which of the following is the BEST way to define "Say's Law?"
(a) supply creates its own demand;
(b) continue to add capital until the marginal product of capital is zero;
(c) equilibrium takes place at the intersection of a supply curve and a demand curve;
(d) the act of producing output in a closed economy generates enough income to buy back all of the output produced.
39. Which of the following is NOT generally considered a determinant of the U.S. labor force participation rate? (a) the level of "discouragement" among unemployed persons;
(b) cultural factors, such as the willingness and ability of caregivers to work;
(c) frictional unemployment;
(d) demographics.
40. China and India tend to have higher sustained growth in real GDP than most developed market countries, because: (a) China and India have relatively more rapid population growth;
(b) China's and India's growth rates are measured off a smaller base than those of developed economies;
(c) China and India have made rapid real economic growth a top national priority;
(d) all of the above.
41. The M-1 monetary aggregate includes only the forms of money that are:
(a) most liquid;
(b) in savings accounts;
(c) the highest interest-earning assets;
(d) backed up by the gold reserves of the United States.
42. The Solow model implies all of the following, except:
(a) supply creates its own demand;
(b) countries that devote a relatively larger share of output to investment will be wealthier;
(c) growth will be faster the farther away a country's capital stock is from its steady-state;
(d) new ideas are the driving force behind long-run economic growth.
A Company had total assets and total liabilities at the beginning of the period of $7,300,000 and $4,000,000, respectively. At the end of the period the totals were $8,000,000 (total assets) and $3,600,000 (total liabilities). The company issued Common Stock for $600,000 and paid dividends of $250,000. What was the net income for the period if there were no other changes affecting Stockholders' Equity
Group of answer choices
$250,000
$350,000
$500,000
$750,000
A company reported total Stockholders' Equity of $540,000 at December 31, 2019, with 120,000 common shares outstanding. During the year ended December 31, 2020, the company reported the following:
3/31/2020- Issued 10,000 shares of $3 par value common stock at $42 per share.
7/1/2020- Purchased for treasury 1,000 shares of $3 par value common stock at $10 per share.
8/31/2020- Incurred an Other Comprehensive Loss of $12,000.
9/30/2020- Paid a cash dividends of $.50 per common share.
Net Income for the year $58,900.
What is the amount of Stockholders' Equity as of December 31, 2020?
Group of answer choices
$938,900
$560,900
$948,900
$932,400
ABC Inc., a calendar year retailer that sold ice skates, had the following amounts at December 31, 2020:
Net Sales $938,500
COGS 475,300
Operating Expenses 123,700
Other Income and (expense) 10,200
Other Comprehensive Loss (4,400)
Current taxes payable 20,800
Net Income 221,900
What was ABC's provision for income taxes?
Group of answer choices
$107,800
$123,400
$117,600
$127,800
ABC Corp. had $65 million in pretax accounting income this year. This included estimated warranty expense of $7 million, which is not deductible for tax purposes. Instead, ABC may deduct $5 million of actual warranty costs on its tax return. There were no other temporary or permanent book-tax differences. What is ABC's taxable income for the year?
Group of answer choices
$67 million
$60 million
$72 million
$70 million
RST Incorporated purchased 15,000 shares of its $2 par value common stock on September 23, 2018, for $24 per share. They plan to hold these shares in treasury. RST sold 10,000 of these shares on January 10, 2019, for $22 per share. Which of the following is true regarding the sale on January 10, 2019?
Group of answer choices
Equity increases $360,000.
Equity increases $240,000.
Equity increases $20,000.
Equity increases $220,000.
Foodsource Company purchased a sanitizing machine from the manufacturer by agreeing to pay $15,000 every three months during the next three years beginning three months after the purchase date. The effective market interest rate for this type of arrangement is 8%. Additional information:
PV of $1 PVA of $1
n/i 2% 8% 2% 8%
3 .94232 .79383 2.88388 2.57710
9 .83676 .50025 8.16224 6.24689
12 .78849 .39711 10.57534 7.53608
What value should Foodsource record for the liability (and the machine) on the purchase date? (Round to nearest dollar).
Group of answer choices
$113,041
$50,205
$158,630
$122,434
XYZ, Inc. uses the indirect method for the operating section of the Statement of Cash Flows. What is the net cash flow from operations based on the following information?
Accounts Receivable increased $4,000
Wages payable increased$5,000
Depreciation Expense$9,000
Net Income$125,000
Dividends Paid$33,000
Prepaid Rent decreased$1,500
Gain on the sale of equipment$1,200
Group of answer choices
$135,300
$137,700
$131,500
$103,500
On January 1, 2019, QRS Company granted 80,000 stock options to certain executives. The options may be exercised on or after December 31, 2022, and expire on January 1, 2026. Each option can be exercised to acquire one share of $1 par common stock for $5. The fair value of each options was estimated to be $3 on the grant date. What amount should QRS recognize as compensation expense for 2020?
Group of answer choices
$240,000
$60,000
$80,000
$100,000
During its first year of operations, ABC Co. reported income before taxes of $550,000 and taxable income of $600,000. The difference was due solely to book depreciation of $250,000 and tax depreciation of $200,000. The effective tax rate for the current and future years is 25%. Assuming this is the only temporary or permanent difference in book and taxable income, what amount of Deferred Tax Asset (DTA), or Deferred Tax Liability (DTL), would ABC record at year end?
Group of answer choices
$12,500 DTA
$12,500 DTL
$150,000 DTL
$137,500 DTA
Smith, Inc. issued $20,000,000 of its 5% bonds at par. Two weeks later the bonds were trading on the exchange at 102 (102% of face value.) Which explanation of a change in the market rate between the issue date and two weeks later is most likely?
Group of answer choices
The change in the market rate cannot be determined.
The market rate stayed the same.
The market rate decreased.
The market rate increased.
Alden Trucking Company purchased some trucks from Kenworthy Co. by issuing an installment note for $37,908,000 on January 1, 2018. The note agreement requires Alden to pay $10 million annually, starting on December 31, 2018 and continuing for a total of four more years (final payment December 31, 2022). Kenworthy charges the market interest rate of 10%. After the first payment was made on December 31, 2018, what was the installment note liability for the trucks on Alden's books? (Round to the nearest dollar).
Group of answer choices
$40,000,000
$32,908,000
$27,908,000
$31,698,800
![image text in transcribed](https://s3.amazonaws.com/si.experts.images/answers/2024/06/666afe130dc80_890666afe12dc480.jpg)
![image text in transcribed](https://s3.amazonaws.com/si.experts.images/answers/2024/06/666afe135e02c_891666afe1344a6f.jpg)
![image text in transcribed](https://s3.amazonaws.com/si.experts.images/answers/2024/06/666afe13c23ac_891666afe13a2d7e.jpg)
Step by Step Solution
There are 3 Steps involved in it
Step: 1
![blur-text-image](https://dsd5zvtm8ll6.cloudfront.net/includes/images/document_product_info/blur-text-image.webp)
Get Instant Access with AI-Powered Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
![blur-text-image](https://dsd5zvtm8ll6.cloudfront.net/includes/images/document_product_info/blur-subtext-image.webp)
Step: 3
![blur-text-image](https://dsd5zvtm8ll6.cloudfront.net/includes/images/document_product_info/blur-subtext-image.webp)
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started