A Convenient Rule of Thumb Called the "Rule of 72

question 38

Multiple Choice

A convenient rule of thumb called the "rule of 72" states that a quantity growing at x percent per year doubles in size approximately every (72/x) years.
-Refer to the information above.If an economy can raise its annual real GDP growth rate from 1.8 percent to 2.4 percent,its real GDP doubling time is reduced by ________ years.

• A)30
• B)24
• C)10
• D)43.2

Appreciate the complexities of writing analytical reports compared to informational reports.

Understand the special considerations for organizing report content specifically for web presentation.

Identify and categorize various types of reports according to their purpose in problem-solving.

Recognize reports useful for assessing opportunities within an organization.

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Definitions:

Fiscal Year-End

The completion of a one-year, or twelve-month, accounting period, after which financial statements are produced.

Income Tax Return

The document filed with a tax authority reporting income, expenses, and other tax-related information to determine tax liability or refund eligibility.

Corporation

A corporation is a legal entity that is separate and distinct from its owners, which can enter into contracts, own assets, and is subject to taxation.

Subchapter S Corporation

A type of corporation designed for small businesses that allows income to be passed through to shareholders and taxed at individual rates, avoiding double taxation.