Question

Answer two of the following: What are the differences between income, earnings and wealth? What is...

Answer two of the following:

What are the differences between income, earnings and wealth?

What is the difference between discrimination and prejudice?

Business   Economics   
0 0
Add a commentTranscribed image text
Next >

Homework Answers

Answer #1

1) Wealth is the net worth of a person i.e. the total value of his assets minus his liabilities. It takes huge time to acquire it. Wealth enable a person to enjoy the fruit of his labor. Wealth includes cash, real estate, personal properties such as jewelry and cars.

Income is the amount of money that a person received in return for his services, sale of goods. Income is earned immediately. It generates wealth. It is usually represented by a certain amount of money.

Earnings is the net income which is earned after deducting cost of goods sold, expenses.

2) Prejudice is a baseless attitude of people towards an individual only because of his membership of a social group.

Discrimination means negative treatment given to a person or a group from other people because he or she belongs to a particular class, group or category.

0 0
Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Log In

Sign Up

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
Explain the relationship between stereotyping, prejudice, and discrimination and the differences between these terms. What examples...
Explain the relationship between stereotyping, prejudice, and discrimination and the differences between these terms. What examples from your life come to mind? Then, briefly describe Festinger's (1954) social comparison theory.
What is the difference between income and wealth of a country? Is GDP a measure of...
What is the difference between income and wealth of a country? Is GDP a measure of income or wealth or both or neither?    Do you think we should care about measuring the wealth of a country? Why or why not?
Discuss the qualitive difference between an economy's "wealth" and "income". (world banks wealth report 2018)
Discuss the qualitive difference between an economy's "wealth" and "income". (world banks wealth report 2018)
What are the similarities and differences between the two t tests for the difference between two...
What are the similarities and differences between the two t tests for the difference between two population means? Under what condition should we use the t test for the matched samples?
What are the similarities and differences between the two t tests for the difference between two...
What are the similarities and differences between the two t tests for the difference between two population means? Under what condition should we use the t test for the matched samples?
Explain the difference between wealth and income. Which is more widely distributed in the United States?
Explain the difference between wealth and income. Which is more widely distributed in the United States?
Explain the difference between prejudice and discrimination. Is it possible to be prejudiced but not discriminate?...
Explain the difference between prejudice and discrimination. Is it possible to be prejudiced but not discriminate? To discriminate without being prejudiced? Please provide a well thoughtout answer. thank you
Larkspur Company has the following two temporary differences between its income tax expense and income taxes...
Larkspur Company has the following two temporary differences between its income tax expense and income taxes payable. 2020 2021 2022 Pretax financial income $856,000 $898,000 $974,000 Excess depreciation expense on tax return (29,100 ) (39,100 ) (10,400 ) Excess warranty expense in financial income 20,600 9,500 7,600 Taxable income $847,500 $868,400 $971,200 The income tax rate for all years is 20%. Assuming there were no temporary differences prior to 2020, prepare the journal entry to record income tax expense, deferred...
What is the price-earnings ratio? Explain the differences between it and the dividend yield. Give examples...
What is the price-earnings ratio? Explain the differences between it and the dividend yield. Give examples of each.
Carla Company has the following two temporary differences between its income tax expense and income taxes...
Carla Company has the following two temporary differences between its income tax expense and income taxes payable. 2020 2021 2022 Pretax financial income $864,000 $949,000 $920,000 Excess depreciation expense on tax return (30,800 ) (41,000 ) (9,600 ) Excess warranty expense in financial income 20,900 10,500 8,300 Taxable income $854,100 $918,500 $918,700 The income tax rate for all years is 20%. Assuming there were no temporary differences prior to 2020, prepare the journal entry to record income tax expense, deferred...
ADVERTISEMENT
Need Online Homework Help?

Get Answers For Free
Most questions answered within 1 hours.

Ask a Question
ADVERTISEMENT