Income Elasticity of Demand Income elasticity of demand may be defined as the ratio or proportionate change in the quantity demanded of a commodity to a given proportionate change in the income. In short‚ it indicates the extent to which demand changes with a variation in consumer’s income. Practical application of income elasticity of demand 1. Helps in determining the rate of growth of the firm. If the growth rate of the economy and income growth of the people is reasonably forecasted‚ in that
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As per the Income Tax Act‚ 1961 where a person dies‚ his legal representatives shall be liable to pay any sum which the deceased would have been liable to pay if he had not died‚ in the similar manner and to the same extent as the deceased. As per section 159 of the Income Tax Act‚ 1961 (Act)‚ even when a person dies‚ the assessment of his income is to be done upto the time of his death. So‚ the legal representative of the deceased has to file the income tax return for the income on which the deceased
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Christmas Day on the 25th December? No one knows the real birthday of Jesus! No date is given in the Bible‚ so why do we celebrate it on the 25th December? The early Christians certainly had many arguments as to when it should be celebrated! Also‚ the birth of Jesus probably didn’t happen in the year 1AD but slightly earlier‚ somewhere between 2BC and 7BC (there isn’t a 0AD - the years go from 1BC to 1AD!). The first recorded date of Christmas being celebrated on December 25th was in 336AD‚ during
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senior scienceSenior Science Assessment Task One Written Task: Open Ended Investigation Aim: Compare the solubility of various forms of panadol at body temperature in different pH conditions Hypothesis Panadol 6 will dissolve faster than any other panadol and all type of panadol will have increase solubility in acidic conditions Apparatus and Materials * 54 alcohol swabs * Glass thermometer * 600mL pyrex measuring jug (heat resistant‚ transparent‚ glass‚ volumetric measuring instrument)
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H English 10 27 January 2014 My Goals for the Year of 2014 In my eyes‚ a new year means a fresh start and a clean slate for new opportunities‚ ambitions‚ and goals. For 2014‚ I’ve set big and important goals for myself to not only better my life‚ but the lives of others around me. My goals for this year include having a more positive attitude‚ keeping a B or higher in AP world and math‚ and staying more organized. I am hoping to stick with these goals throughout 2014 and for the rest of my life
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Yeats 2014 “Yeats uses evocative language to create poetry that includes both personal reflection and public commentary.” Discuss this statement‚ supporting your answer with reference to both themes and language found in the poetry of W B Yeats on your course. “Easter 1916” is a prime example of how Yeats uses striking language to create poetry that has both personal reflection and public commentary. I was impressed by the clever structure of the poem. It has four stanzas‚ two containing sixteen
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Recently‚ a term known as income inequality has been thrown around in the debate between the rich and the poor. Income inequality is the unfair and ever expanding disparity between the nation ’s highest-income households‚ and the lowest-income households. Although it ’s impossible to establish 100% equality‚ due to it being unfair to give everyone the same exact income even though certain individuals work harder than others‚ thus it should be our
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TELEPHONE COMPANY AND SUBSIDIARIES CONSOLIDATED FINANCIAL STATEMENTS AS AT MARCH 31‚ 2013 (UNAUDITED) AND DECEMBER 31‚ 2012 (AUDITED) AND FOR THE THREE MONTHS ENDED MARCH 31‚ 2013 AND 2012 (UNAUDITED) F-1 PHILIPPINE LONG DISTANCE TELEPHONE COMPANY AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF FINANCIAL POSITION (in million pesos‚ except par value per share amounts and number of shares) As at January 1‚ As at March 31‚ As at December 31‚ 2012 2012 2013 (As Adjusted*) (Unaudited) ASSETS
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CHAPTER 19 ACCOUNTING FOR INCOME TAXES Multiple Choice 1. Major reasons for disclosure of deferred income tax information is (are) a. better assessment of quality of earnings. b. better predictions of future cash flows. c. that it may be helpful in setting government policy. d. all of these. 2. Taxable income of a corporation a. differs from accounting income due to differences in intraperiod allocation between the two methods of income determination. b. differs
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National income‚ by itself‚ doesn’t tell us very much about the standard of living in a country. The national income of India exceeds that of Canada but no on would claim that India was a better place to live for the typical member of the population. India’s is higher simply because the population is 1.2 billion‚ there is enormous public-sector spending and high inward investment because of high interest rates and so on. What is more important is national income per head of the population.
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