Hopkins co. at the end of 2017, its first year of operations, prepared a reconciliation between pretax financial income and taxable income as follows: pretax financial $3,000,000estimated litigation ,000,000extra depreciation for ,000,000)taxable $100,000the estimated litigation expense of $4,000,000 will be deductible in 2018 when it is expected to be paid. use of the depreciable assets will result in taxable amounts of $2,000,000 in each of the next three years. the income tax rate is 30% for all years. the deferred tax liability to be recognized is1. $900,000.2. $1,200,000.3. $1,800,000.4. $1,500,000.

Vulcan flyovers offers scenic overflights of mount st. helens, the volcano in washington state that explosively erupted in 1982. data concerning the company’s operations in july appear below: vulcan flyovers operating data for the month ended july 31 actual results flexible budget planning budget flights (q) 56 56 54 revenue ($350.00q) $ 16,500 $ 19,600 $ 18,900 expenses: wages and salaries ($3,300 + $91.00q) 8,354 8,396 8,214 fuel ($31.00q) 1,904 1,736 1,674 airport fees ($870 + $35.00q) 2,730 2,830 2,760 aircraft depreciation ($11.00q) 616 616 594 office expenses ($240 + $1.00q) 464 296 294 total expense 14,068 13,874 13,536 net operating income $ 2,432 $ 5,726 $ 5,364 the company measures its activity in terms of flights. customers can buy individual tickets for overflights or hire an entire plane for an overflight at a discount. required: 1. prepare a flexible budget performance report for july that includes revenue and spending variances and activity variances.

During which of the following phases of the business cycle does the real gdp fall? a. trough b. expansion c. contraction d. peak

What would not cause duff beer’s production possibilities curve to expand in the short run? a. improved manufacturing technology b. additional resources c. increased demand