Taxes on labor tend to encourage the elderly to retire early.

Martha purchases a book from Just Books on credit and later sells the book to her friend,Christina.Christina in turn sells the book to David,who agrees to pay the balance to Just Books.Who is the creditor beneficiary in this exchange?

A) Martha
B) Christina
C) David
D) Just Books

In cases of substance abuse by employees, supervisors should try to counsel or advise employees themselves so that the issue is handled before it requires expert counseling.

What is the closing entry to allocate net income $210,000 to Eric, Von, and Derek? Their respective capital balances are $69,000, $69,000, and $92,000. Net income is shared in a ratio of their capital balances.

A) Debit Income Summary $210,000; credit Eric, Capital $63,000; credit Von, Capital $63,000; credit Derek, Capital $84,000
B) Debit Income Summary $210,000; credit Eric, Capital $70,000; credit Von, Capital $70,000; credit Derek, Capital $70,000
C) Debit Salary Expense $210,000; credit Salaries Payable $210,000
D) Net income cannot be allocated.

You notice that whenever incomes rise by 5 percent, people buy 3 percent more of Good A. This suggests that Good A has a negative income elasticity of demand.

Income taxes and property taxes generate the highest tax revenue for state and local governments.