Ask Question, Ask an Expert


Ask Accounting Basics Expert

What rationale could you use to describe the following statement: " income mobility makes lifelong incomes much less unequal than annual incomes."

a) There will always be an element of the haves, and the have-nots in a market economy.

b) People whose incomes are low over their lifetime skew annual income averages.

c) Because individuals are free to move up and down the income scale, they have the ability to spread annual income inequalities over their lifetime.

d) Annual incomes do not always affect lifelong incomes.

Accounting Basics, Accounting

  • Category:- Accounting Basics
  • Reference No.:- M938290

Have any Question? 

Related Questions in Accounting Basics

Following is the current balance sheet for a local

Following is the current balance sheet for a local partnership of doctors: Cash and current assets $ 50,000Liabilities $ 90,000 Land 290,000 A, capital 70,000 Building and equipment (net) 220,000 B, capital 90,000 C, cap ...

Practice questionsin what circumstances would you recommend

Practice questions: In what circumstances would you recommend the use of the machine hour overhead absorption rate?

Problemon january 1 2015 west company acquired a tract of

Problem: On January 1, 2015, West Company acquired a tract of bond for P1,000,000. The entity paid P100,000 down and signed for two-year promissiory note for the balance plus 10% international compounded annually. The no ...

Presentation on cybercrimemayfield electronics inc an

Presentation on CyberCrime Mayfield electronics, Inc., an international company has asked your accounting firm to share with its employees the threat of cybercrime and how the company can protect itself corporately as we ...

Practice questionsexplain the main items you would expect

Practice questions: Explain the main items you would expect to find on the profit and loss account of a limited company which are not present on the profit and loss account of a sale trader.

Example of manual accounting - the bad old daysthe benjamin

Example of Manual Accounting - The bad old days The Benjamin Company completed these transactions during January of the current year: January 1, Began business by selling stock for $750,000.00.   January 1, Rented office ...

Accounting information systems assignmentthe processes of

ACCOUNTING INFORMATION SYSTEMS ASSIGNMENT: The processes of selecting an AIS/ERP to make informed decision for investment in an accounting software. Group Assignment Scenario B Bakery is a family owned firm with around 7 ...

Case study -you are auditing the financial report of best

Case Study - You are auditing the financial report of Best Living Supplies Ltd (Best Living Supplies) for the year ended 30 June 2016. Best Living Supplies sells a wide variety of household products to retail outlets. Al ...

The retained earnings account balance for a large

The Retained Earnings account balance for a large corporation is $10,000,000. This amount represents a. cumulative profits over time that have not been distributed to shareholders b. cash in the bank c. current year prof ...

Assignment - review of current accounting issuestask -in

Assignment - Review of Current Accounting Issues Task - In your accounting career you will be required to analyse current accounting issues and communicate your theoretical understanding to your professional colleagues a ...

  • 4,153,160 Questions Asked
  • 13,132 Experts
  • 2,558,936 Questions Answered

Ask Experts for help!!

Looking for Assignment Help?

Start excelling in your Courses, Get help with Assignment

Write us your full requirement for evaluation and you will receive response within 20 minutes turnaround time.

Ask Now Help with Problems, Get a Best Answer

A cola-dispensing machine is set to dispense 9 ounces of

A cola-dispensing machine is set to dispense 9 ounces of cola per cup, with a standard deviation of 1.0 ounce. The manuf

What is marketingbullwhat is marketing think back to your

What is Marketing? • "What is marketing"? Think back to your impressions before you started this class versus how you

Question -your client david smith runs a small it

QUESTION - Your client, David Smith runs a small IT consulting business specialising in computer software and techno

Inspection of a random sample of 22 aircraft showed that 15

Inspection of a random sample of 22 aircraft showed that 15 needed repairs to fix a wiring problem that might compromise

Effective hrmquestionhow can an effective hrm system help

Effective HRM Question How can an effective HRM system help facilitate the achievement of an organization's strate