This essay will consider if children from low income families are disadvantaged in the education system. It will examine if there is a direct link between poverty and low educational attainment. As far back as 1959 the Crowther Report identified a link between low incomes and low attainment levels. This was followed in 1963 by the Newsom report that found many secondary modern schools were deficient and argued that the less privileged 50 per cent of children did not receive their fair share of resources
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E4-4 (Multiple-Step and Single-Step) Two accountants for the firm of Allen and Wright are arguing about the merits of presenting an income statement in a multiple-step versus a single-step format. The discussion involves the following 2012 information related to Webster Company ($000 omitted). Administrative expense Officers’ salaries $4‚900 Depreciation of office furniture and equipment 3‚960 Cost of goods sold 63‚570 Rent
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Income per person is described as the amount of money that is been earned per person in a certain area or place. It is also known as the per capita income. Income per person is the measure of the mean income of people in an economic unit such as a country or a city. Income per person or per capita income is calculated by taking a measure of all sources of income in the aggregate or the Gross national income and dividing it by the total population. The income person is used as the
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on growth. Initial cross-country studies found that greater initial income inequality actually reduces future growth even after controlling for initial levels of GDP and human capital. Evidence predominantly suggests that inequality is bad for growth. The World Development Report 2000/01 concludes that better distribution is possible without a reduction in economic growth. In other words there is no inevitable trade-off between equity and efficiency. On the contrary‚ lower inequality can create faster
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Inequality exists around us. One of the inequalities is the income received by a person or member of a family. Income inequality refers to the various incomes within a given population. This income includes wages‚ salaries‚ pensions‚ and interest derived from the assets. The economy nowadays is very dynamic and is constantly growing‚ but the top is absorbing the biggest portion of the growth. As Arthur Okun once said: “Inequality is the price America pays for a dynamic‚ efficient economy; we may
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productivity. For a fixed amount of capital‚ additional workers each add less additional output as the number of workers increases. For a fixed number of workers‚ additional capital adds less additional output as the amount of capital increases. 3- Explain why the profit-maximizing level of employment for a firm occurs when the marginal revenue product of labor equals the nominal wage. How can this profitmaximizing condition be expressed in real terms? The marginal revenue product of labor represents
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The earned income tax is used for individuals who make less than $54k a year. This credit is one of the most overlooked tax break‚ according to many experts. The IRS estimate 26 million people received about $65.6 billion under this tax credit last year. The average amount received was more than $2‚400 but it can be worth more than $6‚000. Most people who qualified for the tax break do not apply for it. It’s huge. Especially for low income households‚ most people who applied couldn’t believe
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to rent and royalty income are deductions for AGI. a. True b. False ANSWER: True 6. Alice incurs qualified moving expenses of $12‚000. If she is reimbursed by her employer‚ the deduction is classified as a deduction for AGI. If not reimbursed‚ the deduction is classified as an itemized deduction. a. True b. False ANSWER: False RATIONALE: Moving expenses are classified as deductions for AGI. 7. Expenses incurred for the production or collection of income generally are deductions
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After doing this assignment I realized some of the reason that low-income families do what they do. It is very hard for a family to live off of a minimum wage salary; it doesn’t matter if it is a single parent or a two-parent household. The more people are in a household‚ the more expenses there will be‚ I never really thought about that concept until doing this assignment. Something’s that some people might take for granted can actually be a luxury to others. A car for example‚ I never realized
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Priceline.com 1. At the moment Priceline recognizes revenue using the gross method whereby the offered price $250 net of taxes and fees is recognized as revenue and $200 is recognized as cost of goods sold. The alternative would be to use the net method where only the 20% commission is recognized as revenue. It is important to distinguish between who bares the risks and benefits of the transaction. (SEC Staff Accounting Bulletin #101‚ Q10). Despite Priceline being the merchant of record‚ they
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