Congress has authority to create regulatory agencies and give them powers to enact rules under which clause(s) of the Constitution:
a. the trade clause
b. the agency clause and the property clause
c. the agency clause and the regulatory clause
d. the commerce clause and the necessary and proper clause e. the defense clause
d
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Suppose you just won the state lottery, and you have a choice between receiving $2,550,000 today or a 20-year annuity of $250,000, with the first payment coming one year from today. What rate of return is built into the annuity? Disregard taxes.
A. 7.12% B. 7.49% C. 7.87% D. 8.26% E. 8.67%
Mahoe Corporation has provided the following financial data:Balance SheetDecember 31, Year 2 and Year 1AssetsYear 2Year 1Current assets: Cash$105,000 $190,000 Accounts receivable, net 255,000 220,000 Inventory 206,000 200,000 Prepaid expenses 44,000 50,000 Total current assets 610,000 660,000 Plant and equipment, net 1,065,000 970,000 Total assets$1,675,000 $1,630,000 Liabilities and Stockholders' Equity Current liabilities: Accounts payable$119,000 $110,000 Accrued liabilities 88,000 80,000 Notes payable, short term 53,000 50,000 Total current liabilities 260,000 240,000 Bonds payable 110,000 110,000 Total liabilities 370,000 350,000 Stockholders' equity: Common stock, $5 par
value 250,000 250,000 Additional paid-in capital 70,000 70,000 Retained earnings 985,000 960,000 Total stockholders' equity 1,305,000 1,280,000 Total liabilities & stockholders' equity$1,675,000 $1,630,000 Income StatementFor the Year Ended December 31, Year 2Sales (all on account)$1,330,000 Cost of goods sold 890,000 Gross margin 440,000 Operating expenses 393,571 Net operating income 46,429 Interest expense 10,000 Net income before taxes 36,429 Income taxes (30%) 10,929 Net income$25,500 Dividends on common stock during Year 2 totaled $500. The market price of common stock at the end of Year 2 was $8.06 per share.The company's equity multiplier at the end of Year 2 is closest to: A. 0.78 B. 0.28 C. 1.28 D. 3.53
A summary measure that is computed using the entire population is called:
a. a parameter b. a statistic c. a sample d. inferential statistics
In a graduated tax system,
A) the tax rate stays the same regardless of taxable income. B) the tax rate gets lower as taxable income gets larger. C) the tax rate gets higher as taxable income gets smaller. D) the tax rate gets higher as taxable income gets larger.