Gross national income

increase the degree of wealth and comfort that a group of people in a certain geographic area experience by promoting economic growth. The standard of living takes into account many factors, some being; income gap, unemployment rate, poverty level, inflation rate, and gross domestic product. Gross domestic product or GDP is the sum of a country’s consumption, investment, government spending, and net exports. The most common measurement of a country’s standard of living is the average real GDP…

In less than 40 years, China has developed from a weak economy, and an impoverished society, to the world’s second largest economy by nominal Gross Domestic Product (GDP) and the largest by purchasing power parity. With a GDP recorded in 2014 to be worth 10360.10 billion US dollars that represents 16.71% of the world’s economy, China has earned its place as a member of BRICS - Brazil, Russia, India, China and South America – a term devised by O’Neil for five of the world’s fasted and largest…

decrease. At the same time, the state tries to use the taxes to stimulate the production. Hence, if taxes are levied from revenue, the national capital…

increased at a higher rate in the financial year 2014-15 as compared to 2013-14. Hence, it is important for Greencross Limited to cut down the expenses by taking necessary steps and implementing new financial strategies. The horizontal analysis of the income statement is presented in Appendix D for further…

containment, to operate. While Americans will never escape the burden of tax, altercations to the current tax system can correct the issues that taxpayers fear. The current US federal income tax is a progressive tax model that utilizes eight tax brackets ranging from 10% for the lowest income earners to 39.6% for the highest income earners. However, recent…

accessible college is for future college students who cannot afford it. Clinton’s position on college access for people whose families have lower incomes is very popular with many college students. According to CNN money, “Her proposal includes tuition-free enrollment in public, in-state colleges and universities for families of four making up to $85,000. The income benchmark would increase over four years to $125,000 -- covering about 80% of U.S. families” (Merica and Bradner). If Clinton…

One reason is that a corporation maintains a capital stock account, additional paid-in capital accounts, and a retained earnings account. “Net income or loss becomes part of retained earnings, and dividends are always paid equally to all shareholders of a particular class of stock” (Bline, Fischer, & Skekel, 2004, Chapter 7). Corporations are also able to reacquire some of its own equity interest in the form of treasury stock. Other advantages of establishing a subsidiary as a corporation are…

an investment bank with a $200,000 yearly income, the individual should clearly accept the offer with the investment bank since it’d be more effective, “Working in finance, however, you earn much more than you need and give half of your earnings to the charity, which can use that money to employ two extra workers…” (Singer,…

Question 1: Presentation of Financial Statements A. Income statement and Cash flow statement Accounting profit: The process of accrual accounting recognises earned revenue and incurred expenses (Deegan & Samkin, 2013). It is the difference between the revenue earned by a company and its costs. There are certain adjustments in consideration like depreciation, interest and tax. It consists of non-cash items as well. It is also called the net income of the company. It considers both cash…

Income-tax notices and how to avoid them It is not uncommon to be served with income tax notices because many people may not be aware of what they are supposed to do. Most tax notices alert the recipients about the issue that needs to be addressed or corrected immediately. Whatever reason is behind your notice, never ignore the notice because the tax department can impose fines of up to Rs 10,000 if the concerned party fails to reply to the notice in assessee. The number of people being served…