Suppose There Is Currently a Tax of $50 Per Ticket

question 147

Multiple Choice

Suppose there is currently a tax of $50 per ticket on airline tickets.Buyers of airline tickets are required to pay the tax to the government.If the tax is reduced from $50 per ticket to $30 per ticket,then the

• A)demand curve will shift upward by $20,and the effective price received by sellers will increase by $20.
• B)demand curve will shift upward by $20,and the effective price received by sellers will increase by less than $20.
• C)supply curve will shift downward by $20,and the price paid by buyers will decrease by $20.
• D)supply curve will shift downward by $20,and the price paid by buyers will decrease by less than $20.

Familiarize with the components of internal controls and their importance in financial management.

Calculate and interpret the ratio of cash to monthly expenses.

Understand the components and objectives of internal control systems.

Identify and apply bank statement adjustments and company book adjustments.

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Definitions:

Corporate Financial Records

Documents that detail a company's financial status, including balance sheets, income statements, cash flow statements, and more.

Marketing Plans

Structured documents that outline a company's strategy for promoting its products or services to potential customers.

Phishing

A cybercrime technique involving the use of fraudulent communications, often emails, to deceive individuals into providing sensitive information.

Identity Theft

The fraudulent acquisition and use of a person's private identifying information, usually for financial gain.