Indicate whether each of the following was counted in the United States gross domestic product for the year 1998. Explain each of your answers.

a) The commission earned by a Realtor who sold a house in 1998. The house was originally built in 1955.

b) The value of an automobile produced in 1998, but sold on January 1st, 1999.

c) The $1000 that Kevin earned from a stock that he bought and sold in 1998.

d) The value of blenders produced in 1998 entirely in Germany by a company that is owned by American citizens.

Consider the Country of Econoland, which specializes in producing computers and bicycles. In 1998 Econoland produced 30 bicycles which were priced at $10 a bike and 2 computers which were priced at $100 a computer. In 1999 Econoland produced 30 bicycles at $11 a bike and 5 computers at $90 a computer. e. If the nominal inters rate was 8% from 1998 to 1999 what was the real interest rate if inflation was computed using the GDP Deflator with base year of 1998? f. suppose the government of Econoland measure inflation using a bundle of 2 bikes and 1 computer. What would they have measured the inflation rate being from 1998 to 1999?

If nominal interest rate was 8% from 1998 to 1999 what was the real interest rate if inflation was computed using the GDP Deflator with base year of 1998?

Suppose the government of econoland measured inflation using a bundle of 2 bikes and 1 computer. What would they have measured the inflation rate being from 1998 to 1999?

Identify and discuss four important pieces of legislation about local government which were passed at the inception of democratic dispensation.

Please focus on these ones:

1. Local Government: Municipal Systems Act, 2000 (ACT 32 of 2000)

2.Local Government: Municipal Structures Act, 1998 (ACT 117 of 1998)

3. Local Government: Municipal Demarcation Act, 1998 (Act 27 of 1998)

4. Local Government: Municipal Systems Act, 2000 (ACT 32 of 2000)

Kenneth, a Malaysian citizen was operating a restaurant in Japan since 1998. During

the period 1998 to 2006, Kenneth was never in Malaysia. Since 2007, Kenneth have

been returning to Malaysia frequently to attend to some family affairs and it was established that Kenneth was a Malaysian tax resident for the basis years 2007 to 2009.

In 2014, Kenneth sold his restaurant in Japan. He was recruited into the Malaysian Civil Service at the Ministry of Foreign Affairs from 01 November 2013. He was posted to the Malaysian Embassy in Tokyo from 01 December 2013.

Kenneth left for Tokyo on 29 November 2013 and reported for duty on 01 December 2013. Since then Kenneth has never been back to Malaysia.

Below are the patterns of Kenneth’s duration of stay in Malaysia since 2010:

01 March 2010 to 31 March 2010

01 May 2011 to 31 January 2012

01 April 2013 to 15 May 2013

01 October 2013 to 28 November 2013

During the period Kenneth was not in Malaysia, he was in Japan.

Required:

For the purposes of Malaysian income tax, determine Kenneth’s residence status for the basis years 2010 to 2014.

Support your answers with reasons and citing the relevant provision of the Income Tax Act 1967 that is applicable for a particular year of assessment and also explain why certain sub-sections of section 7(1) are not applicable for any particular year of assessment.

P/S : THE ANSWER WILL BE IN TABLE . EXAMPLE WILL BE IN THE BELOW . THANK YOU~

THANK YOU SO MUCH FOR YOUR HELP .

Rickie is considering setting up a business in the field of entertainment at children’s parties. He estimates that he would earn a gross revenue of £9,000 or £4,000 with a 50–50 chance. His initial wealth is zero. What is the largest value of the cost which would make him start this business if U(x) = x², for x > 0 and U(x) = –x² for x < 0.

Please search and review COSTCO financial statements and notes to financial statement for fiscal year 1998 and fiscal year 1999.

• For the year ended in August 1998, how much and how were membership fees recorded in COSTCO's financial statements? How much net income were reported for fiscal year 1998?
• Was membership fee recorded correctly? If not, what accounting principle does it violate? Why? How did they fix it?
• What were the effects of the fix? How much net income would have been reported for fiscal year 1998?

ABC company's vice president of marketing proposes a new program to significantly increase product sales by 250,000 units per year throughout the 1998-2004 period. Specifically, it is suggested that the company take the following actions: A. Spend $2.5 million over the period of 1998-2000 as promotional expenditures - for example, spend $1.0 million each in the years 1998, 1999, and $0.5 million in the year 2000. B. Make a one-time investment of $1.4 million in plants and equipment needed at the beginning of 1998 to generate these additional products. No new warehouse capability is needed. This investment is to be depreciated on a straight-line basis over the seven-year period. There will be no salvage values for these plants and equipment in 2005. It is further assumed that the product unit cost is $8.00 in 1998, and it is estimated to increase by 3 percent per year. The product unit price is $20 in 1998, and it is estimated to change as manifested in the following table: Items 1998 1999 2000 2001 2002 2003 2004 Unit Price $20.00 $20.60 $21.00 $21.15 $21.25 $21.25 $21.00 The SG&A expenditure is estimated at $1.25 million in 1998, and it will increase by 3 percent per year during the six-year period. A corporate tax of 40 percent must be paid for any marginal income. There is an interest charge during this period, and the company's weighted average cost of capital (WACC) is 8 percent. If the company's hurdle rate for this type of investment is 25 percent, and the NPV (Net Present Value) for the proposed marketing initiative is negative at that hurdle rate of 0.25, why would you not recommend the marketing initiative be approved? Explain in depth.

In 1997, a disagreement arose between Livent Inc. and its auditor, Deloitte and Touche (Deloitte). Livent, which operated several theaters for live stage production, had sold the naming rights to one of its theaters to AT&T for $12.5 million. The agreement was oral, and one of the theaters was under construction. The auditors for Deloitte believed that only a portion of the deal should be included in revenue, but Livent wanted to book the entire $12.5 million. Livent retained Ernst & Young (EY) to provide an opinion on the transaction. EY’s report indicated that all $12.5 million could be recorded as revenue. Deloitte hired Price Waterhouse (currently PricewaterhouseCoopers) to review the transaction. Price Waterhouse agreed with EY and Livent, and Deloitte allowed Livent to book the $12.5 million. In 1998, Livent issued a series of press releases indicating the discovery of significant account irregularities and, later in 1998, Livent declared bankruptcy.

Required: Exhibiting professional competence and due professional care are part of the general standards set forth in the AICPA Code of Professional Conduct. Comment on the decision to engage public accounting firm competitors EY and Price Waterhouse concerning the disagreement over the accounting treatment of the $12.5 million transaction. Do you believe that hiring a competitor firm is sufficient to meet due professional care standard even though the company eventually declares bankruptcy?