The owner of a life insurance policy purchased a year ago may be permitted to sell it as part of a divorce settlement agreement.
How do life insurance policies work?Life insurance, which is frequently the policyholder, is a contract between an insurance policy holder and an insurer or assurer wherein the insurer agrees to pay a designated beneficiary a set amount of money upon the death of an insured person. Other circumstances, such as a critical sickness or a terminal disease, may also result in payment, depending on the terms of the contract. The policyholder typically pays the premium, either on a monthly basis or all at once. The benefits may be used to pay for additional expenses, such funeral expenses.
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Which of the following did many young women see as a positive aspect of working in the Lowell mills?
Employers encouraged the formation of labor unions and negotiated win-win contracts.
Working apart from the family with other young women created a sense of independence and solidarity.
Women were only expected to work 4-6 hours a day, giving them ample free time.
There was a greater amount of leeway toward social norms in the mills than in the women's families.
Working apart from the family with other young women created a sense of independence and solidarity did many young women see as a positive aspect of working in the Lowell mills.
What are the positive aspects of working at?Your daily life may be positively or negatively impacted by your work environment. Workplaces with "positive" work environments are those where there is trust, cooperation, safety, support for taking risks, accountability, and equity.When workers have a satisfying experience at work, they exhibit stronger levels of Feeling that you belong to a group, team, or organisation. Understanding one's work's significance is having purpose. Achievement is the feeling of having accomplished something.A person with a positive outlook on work will approach all of their jobs and responsibilities with a positive, can-do attitude. When obstacles or hurdles arise, they will inspire those around them to put in their best effort and aid in advancing projects.Learn more about Positive aspects of working refer to :
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fill in the blank. ___ an operating budget will determine if a business has adequate financial resources on hand to pay bills as they become due or if it will need to borrow money.
1907 an operating budget will determine if a business has adequate financial resources on hand to pay bills as they become due or if it will need to borrow money.
Yes, A company's expectations of future revenue and expenses are estimated in considerable detail in an operating budget. Near the end of the year, businesses generate an operating budget to highlight anticipated activity the following year.
What is business?
An ambitious firm or organization that participates in professional activities is considered as a business. They might be industrial, commercial, or anything else. Businesses that are for-profit operate to make a profit, whereas businesses that are nonprofit do so to further a charitable purpose.
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which of the following illustrates the attainable combination of two goods that can be produced given a specific set of resources?
Answer:
The production possibilities curve illustrates the maximum possible output for two products when there are limited resources. It also illustrates the opportunity cost of making decisions about allocating resources.
Explanation:
goods that are identical are known as a(n) . question 4 options: accession collateral lien gifts fungible
Goods that are identical are known as fungible.
What are fungible goods?
Securities or other items that are interchangeable in practice because they are equivalent or have a large number of identical pieces are referred to be fungible goods. It is possible to classify material things, securities, and other financial instruments as fungible goods. Products are probably not fungible if they are sold by weight or quantity. Commodities, common shares, options, and dollar notes are examples of fungible goods in finance and investing. Barter or liquidity is not the same as the phrase "fungible." A good acquired through barter is not always equivalent to the item exchanged in units. In other words, goods of varied or incomparable value can be bartered.
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Giving Brainliest!
What phrase would be BEST to use with an audience of non-native English speakers to convey that something is very difficult?
Question 10 options:
This will have you grasping at straws.
This is a catch-22.
This is going to be a lot of work.
This will be an uphill climb.
Answer:
This is going to be a lot of work.
Explanation:
Other options are sayings that will be difficult to understand for someone that is a non-native English speaker. While they sound normal are normal sayings that people use daily, it will be hard for someone who doesn't understand the meanings behind them.
An employee's net (or take-home) pay is determined by gross earnings minus amounts for income tax withholdings and the employee'sa. portion of FICA taxes and unemployment taxes.b. portion of FICA taxes, unemployment taxes, and any union dues.c. and employer's portion of FICA taxes, and unemployment taxes.d. portion of FICA taxes and any union dues.
(a) portion of FICA taxes and unemployment taxes. Gross pay is subtracted with amounts for employee's insurance and income tax withholdings to get the employee's net (or take-home) pay.
The amount that an employee receives after all required deductions have been made is known as their net pay. This includes their share of FICA taxes as well as unemployment insurance. The sum of an employee's gross earnings is the amount earned before any deductions are made. The most typical deductions are for federal and state income taxes, FICA taxes (Social Security and Medicare), unemployment insurance, and any union dues. A portion of these taxes must be paid by the employee, and the employer is responsible for the remaining sum. The employee's net pay is computed by deducting these sums from the employee's gross income.
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Under what circumstances would the GDP deflator be less than 100 after the base year?
a. The GDP deflator will be less than 100 if there has been deflation relative to the base year.
b. The GDP deflator will be less than 100 if there has been inflation of less than 2% per year relative to the base year.
c. There are no circumstances under which the GDP deflator could be less than 100.
d. The GDP deflator will be less than 100 if there has been inflation relative to the base year.
The GDP deflator will be less than 100 if inflation has been less than 2% per year in relation to the base year.
What circumstances could result in the GDP deflator going above 100 after the base year?No, a deflator greater than 100 shows that prices have risen since the base year. This does not necessarily mean that inflation is still occurring. In reality, you can be experiencing deflation after a period of inflation in this situation if current prices are still greater than they were in the base year.
A GDP deflator value of 100: what does it mean?Prices were down overall by 21% from the base year to with a GDP deflator of 79%.
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Alcorn Service Company was formed on January 1, 2018. Events Affecting the 2018 Accounting Period 1. Acquired $78,000 cash from the issue of common stock. 2. Purchased $4,800 of supplies on account. 3. Purchased land that cost $54,000 cash. 4. Paid $4,800 cash to settle accounts payable created in Event 2. 5. Recognized revenue on account of $78,000. 6. Paid $39,000 cash for other operating expenses. 7. Collected $56,000 cash from accounts receivable. Information for 2018 Adjusting Entries 8. Recognized accrued salaries of $5,000 on December 31, 2018. 9. Had $2,000 of supplies on hand at the end of the accounting period. Events Affecting the 2019 Accounting Period 1. Acquired $38,000 cash from the issue of common stock. 2. Paid $5,000 cash to settle the salaries payable obligation. 3. Paid $9,000 cash in advance to lease office space. 4. Sold the land that cost $54,000 for $54,000 cash. 5. Received $10,200 cash in advance for services to be performed in the future. 6. Purchased $2,800 of supplies on account during the year. 7. Provided services on account of $50,000. 8. Collected $51,000 cash from accounts receivable. 9. Paid a cash dividend of $4,000 to the stockholders. 10. Paid other operating expenses of $37,500.
2018:
Revenues: $78,000
Expenses: $4,800 (supplies), $54,000 (land), $39,000 (other operating), $5,000 (accrued salaries) = $102,800
Net Loss: $24,800
2019:
Revenues: $50,000
Expenses: $2,800 (supplies), $37,500 (other operating), $5,000 (salaries payable) = $45,300
Net Income: $4,700
What is a financial statements?Financial statements are official reports that summarize a company's financial status and provide a picture of its financial performance and position at a given point in time. The three main financial statements are:
The balance sheet, which provides a snapshot of a company's assets, liabilities, and equity at a specific point in time.
The income statement, which shows a company's revenue and expenses over a given period of time and results in a determination of net income or net loss.
The statement of cash flows, which shows the flow of cash in and out of a company and provides information on how well the company manages its cash resources.
These statements are used by various stakeholders, including investors, creditors, and management, to evaluate a company's financial health, make informed decisions, and plan for the future
It should be noted that the information provided above only covers events affecting the accounting periods.
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ambassador hotels purchases one year of fire insurance coverage on december 1 for $24,000 ($2,000 per month), debiting prepaid insurance. on december 31, ambassador would record the following year-end adjusting entry:
Ambassador would record the following year-end adjusting entry like Debit Insurance Expense, Credit Prepaid Insurance.
Explain the term credit with reference to business.
Credit may represent many different things in the realm of finance, but it is often understood as a contract where a borrower receives money or something valuable and agrees to pay the lender back at a later time, usually with interest.
The term "credit" can also refer to someone or something's creditworthiness or credit history.
It frequently refers to an accounting item that lowers assets or raises liabilities and equity on a company's balance sheet, according to accountants.
A social relationship between a creditor (lender) and a borrower is the fundamental component of credit (debtor). Debtor agrees to return lender, frequently with interest, or face financial or legal repercussions.
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From the perspective of process analysis, which of the following could be appropriate flow units for a hardware store? a. Number of workers. b. Number of cash registers. c. Number of customers. d. Number of suppliers
The Correct option c.) Number of customers
Process analysis is a form of technical writing and expository writing "designed to convey to the reader how a change takes place through a series of stages".
While both a traditional process analysis and a set of instructions are chronologically organized, the reader of a process analysis is typically interested in understanding the chronological components of a system that operates largely without the reader's direct actions (for example, how the body digests an apple), whereas the reader of a set of instructions intends to use the instructions to accomplish a specific, limited task (such as how to bake an apple pie). The reader of a mechanism description, on the other hand, is more interested in an object in space.
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an investor company owns 10% of the stock of an investee company and carries the investment at fair value. in 20x1, the investor company acquires an additional 20% of the stock of the same investee company. which of the following are options for the investor company to account for the additional shares purchased
Continue to carry investment at fair value and apply equity method from date of acquisition of additional investment are options for investor company to account for additional shares purchased.
What is an acquisition?When a corporation purchases the majority or all of the shares of another business with the intention of assuming control of it, this is referred to as an acquisition. If they buy more than 50% of the shares and other assets of the target firm, the acquirer can make decisions regarding newly acquired assets without the approval of the target company's other shareholders. We commonly hear about the purchases of big, well-known companies since these huge and significant deals frequently make the news. Small and medium-sized firms combine and acquire one another more frequently than large corporations, in reality. Companies acquire competing companies for a variety of reasons. They can be seeking price reductions, increased synergy, increased market share, economies of scale, more specialised products, or a larger market share.
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assume the initial equilibrium is at point w. if the number of manufacturers producing electric cars increases and the number of buyers of electric cars increases, the equilibrium point will move from w to:
The equilibrium point will shift from W to Y if both the number of companies making electric cars and the number of consumers buying them both rise.
What is the equilibrium point?
An equilibrium point is a constant solution to a differential equation in mathematics, more precisely in differential equations.
By examining the signs of the eigenvalues of the linearization of the equilibria's equations, equilibria can be categorised. In other words, the equilibria may be classified by evaluating the Jacobian matrix at each of the system's equilibrium points and then determining the resulting eigenvalues. Then, by locating the eigenvector(s) associated with each eigenvalue, the behaviour of the system in the vicinity of each equilibrium point can be qualitatively (or even statistically, in some cases) identified.
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true/false. management of dime community bancshares has enabled borrowers who have been adversely affected by the to defer interest and principal payments on their loans. this is consistent with he cares act legislation. borrowers are not obligated to make the deferred payments.
The given statement "Management of Dime Community Bancshares has enabled borrowers who have been adversely affected by the pandemic to defer interest and principal payments on their loans. This is consistent with the CARES Act legislation. Borrowers are not obligated to make the deferred payments." is true.
The management of Dime Community Bancshares has taken measures to help the borrowers who are facing financial difficulties due to the pandemic. They have been given the option to defer interest and principal payments on their loans, which is in accordance with the CARES Act legislation.
The borrowers are not required to make these deferred payments, giving them some breathing room during these difficult times. This shows the bank's compassion towards their customers and their efforts to provide them with the necessary support during this crisis.
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The American Marketing Association (AMA) defines marketing as "the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large." Evaluate the strengths and weaknesses of this definition. Defend how you would change the definition. Assess whether the definition is clear, accurate, relevant, and current in today’s organizations and society.
As the name suggests, this attribute of data quality denotes the accuracy of the information. If the information represents a real-world situation, that will tell you if the data is correct or not.
What is information?Information is an ambiguous concept that describes anything with ability to inform. Information relates to the interpretation of what can be felt at its most basic level. Any natural activity that is not entirely random and any discernible pattern in any media can both be considered to be transmitting some level of information. The act of turning data into information that may be analysed and processed at a later stage is known as iterative processing of information. Bits in a digital signal can be translated into symbols, letters, numbers, or other forms of information that are available at the next level up. The fact that information is interpretable and processable is its primary quality.
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An emerging area of accounting that is aimed at providing managers with a broader set of information to meet the needs of multiple stakeholders, with the goal of ensuring the company's long-term survival in an uncertain and resource-constrained world.
The goal of managerial accounting is to enhance the quality of information provided to management concerning business operation indicators. Managerial accounting includes numerous accounting aspects.
What is managerial accounting?Managerial accounting includes the identification, measurement, analysis, interpretation, and transmission of financial information to managers for the purpose of achieving an organization's goals. Management accounting is distinct from financial accounting in that its goal is to aid users within the company in making wise business decisions. Enhancing the quality of data provided to management about key business operation metrics is the aim of managerial accounting. Data on the cost and sales revenue of the products and services generated by the company are used by managerial accountants. Cost accounting is an important subset of managerial accounting that focuses specifically on capturing a company's overall costs of production by analysing the variable costs of each stage of production as well as fixed costs.
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You sell friendship bracelets. You have an agreement with your best friend, Georgina, who is a great artist in photography, that she will photograph all her subjects wearing your friendship bracelets. You have agreed that you will get 25 percent of the proceeds from the sale of photographs, and she will get 25 percent of the sale proceeds from your bracelets. Georgina's photography career takes off, and she starts selling her photographs for $5,000 a piece for prints and $25,000 for originals. They are all inspired by your friendship bracelets and are basically commercial ads for those fantastic bracelets. She is sixteen and made $65,000 last year in sales alone. Now she wants to pay you only 10 percent. This is considered a partnership.
The given statement is True.
What is meant by partnership?
Partnership is the result of an agreement between two or more persons to do business and share its profits and losses. The agreement becomes the basis of relationship between the partners. It is not necessary that such agreement is in written form. An oral agreement is equally valid.A partnership business, by definition, consists of two or more people who combine their resources to form a business and agree to share risks, profits and losses. Common partnership business examples include law firms, physician groups, real estate investment firms and accounting groups.Two people joined in partnership scientists working in partnership with each other The company is developing a new car in partnership with leading auto manufacturers in Japan. Their marriage is a partnership that has remained strong despite family illness.To learn more about partnership refers to:
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an application for resident insurance producers license must meet which of the following requirements
Be at least 18 years of age. Maintain principal place of residence or principal place of business in Indiana.
What is residence insurance?Insurance against damage to the structure where you live is known as residence insurance. You must obtain coverage for at least 80% of the value of your home, according to home insurance carriers. An essential component of home ownership is residence insurance. A person who is insured is one who is protected from risk. In contrast, the insurer is the business that offers coverage. It is a service that an insurer offers in exchange for the policyholder paying a premium under a certain insurance policy. Among these insurance varieties are: insurance for homeowners. Condo/Co-op insurance.a minimum age of 18 is required. maintain a primary residence or place of business in Indiana. successfully finish a pre-licensing education program (if necessary) and a test (when required) Not have committed any offenses that would justify refusing, suspending, or revoking a license.To learn more about insurance refer to:
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As a result of accounting scandals, several methods have been developed to deal with the issues of corporate governance. They are all of the following except:
A) The Board must select only SEC approved consultants.
B) Chairman of the Board position should be split from the CEO position.
C) Board of Directors should have a majority of independent directors.
D) The Board of Directors must explain its approach for adopting a code of ethics for the CEO and senior financial officers.
Several approaches have been created to address the difficulties of corporate governance as a result of accounting crises, however the Board may only choose SEC-approved consultants.
The Securities and Exchange Commission (SEC) must give SEC Approval before the Borrower can legitimately borrow funds totaling more than the SEC approve Limit and for the duration of this Accord to be at least 364 days. The Securities Exchange Act requires relevant information to be disclosed by anyone intending to purchase more than 5% of a company's securities through a purchasing goods or tender offer. The SEC's funding does not increase the burden on taxpayers or the overall national debt. All of its funding comes from self-regulatory organisations' fees.
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your division is considering two investment projects, each of which requires an up-front expenditure of $24 million. you estimate that the cost of capital is 11% and that the investments will produce the following after-tax cash flows (in millions of dollars):
The NPV of project A is $9.39 million, and the NPV of project B is $4.07 million. Therefore, the better investment option is project A as it has a higher NPV.
Net Present Value (NPV) is the difference between the present value of future cash flows and the initial investment cost. An NPV value greater than zero indicates that the project provides a positive return on investment.
Therefore, NPV is an important factor to consider when evaluating potential investments. In this case, project A has a higher NPV of $9.39 million, indicating that it would generate more value for the company than project B. As such, it is the better investment option.
Additionally, the cost of capital is 11%, meaning that the company must achieve a return of at least 11% on the investment in order for it to be a good investment. Project A has an NPV of 9.39%, which is higher than the required 11%. Therefore, it is the better investment option.
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Suppose that there is a technological disaster that makes workers less productive than before. Assume that initially output is at its natural rate. a. How, if at all, does this affect the IA curve? b. How, if at all, does this affect Y_n? c. In light of your answers to a. and b., according to the IA-AD model, what is the immediate effect of the disaster on output and the real interest rate? d. Can you tell how the long-run effect of the disaster on output compares with the short-run effect? Explain.
The natural level of production is the amount of output that corresponds to the labour market's equilibrium when the actual and expected price levels are equal.
What affects the natural rate of output?When all resources are effectively utilised, an economy produces at its normal level. It is equivalent to the maximum amount of productivity that a country can support. It is "natural" because after a recession or an extended period of overheating, the economy recovers to its normal level of output.The natural level of production is the amount of output that corresponds to the labour market's equilibrium when the actual and expected price levels are equal. The amount of production that, at each level of prices, results in a labour market that is in equilibrium is known as the aggregate supply relation.To lean more natural level refer to:
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Five characteristics distinguish bond funds. These include maturity range, credit quality, type of bond, country, and _________.
Five characteristics distinguish bond funds, which include maturity range, credit quality, type of bond, country, and yield.
The maturity range refers to the length of time until the bond reaches its full value, with some bond funds focused on short-term investments and others on long-term investments.
Credit quality refers to the likelihood of the borrower repaying their debts, with higher credit quality bonds being considered safer investments. The type of bond refers to the type of debt instrument, such as corporate bonds, municipal bonds, or Treasury bonds.
The country refers to the location of the borrower, with some bond funds investing in a specific country, while others may be more diversified. Yield refers to the return on investment, with higher-yielding bonds generally being considered riskier.
Understanding these five characteristics can help investors make informed decisions when choosing bond funds as part of their investment portfolio.
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T/F in calculating gdp data, the official figures account for barter agreements that take place as part of daily business transactions.
False. The official calculations used to calculate GDP data do not take into account barter arrangements that are a regular aspect of commercial dealings.
Bartering is a form of trade where goods and services are exchanged instead of money being exchanged. It is not possible to accurately measure the value of the goods and services exchanged in bartering and therefore it does not appear in the official GDP figures.
The monetary worth of the products and services produced over a specific time period is the basis for GDP numbers. It is possible to measure the monetary value of goods and services produced and exchanged, but it is not possible to accurately measure the value of goods and services exchanged through bartering.
This means that bartering will not be included in the official GDP figures, as the value of bartering cannot be accurately measured.
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TRUE/FALSE. in a contract for a sale of goods, the right to receive payment on an account may be assigned unless the sales contract prohibits such an assignment.
Above statement is incorrect regarding contract for a sale of goods.
What are the basic principles of contract?Mutual consent, demonstrated by a valid offer and acceptance, sufficient consideration, capability, and legality are the fundamental components needed for the agreement to be a legally enforceable contract. A valid alternative may be able to satisfy some consideration requirements in some states.
What basic principle does privity of contract establish?A contract cannot grant rights to or impose responsibilities on someone who is not a party to it, according to the common law principle known as privity of contract. The assumption is that only parties to contracts should have the right to file a lawsuit in order to assert their rights or seek compensation for damages.
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true/false. a company is creating a new product and must determine how to effectively create the product as well as appeal to the market and target a wide range of customers.
A business is developing a new product, and the demands and preferences of the customer were taken into consideration during development. A corporation can draw in customers with the aid of advertising.
Who is the customer?
Customers are those who have purchased goods and services, and they are responsible for meeting their needs and wants in exchange for payment. With the assistance of the customer, the product information is delivered to the client.
Using market research to identify client demands and product preferences, a company successfully developed a product. the use of social media advertisements to appeal to a broad audience or the intended audience.
As a result, the buyer must draw attention to the product in social media advertisements.
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Monopoly Air is the sole provider of passenger air service between Eldorado and Erewhon. It flies two flights per day in either direction with the typical flight being about 85 percent booked. A new entrant, Upstart Airways, has announced plans to offer additional service in the Eldorao-Erewhon market. However, Monopoly Air has filed a complaint with the local transportation authority arguing that it is a natural monopoly and that additional air service will only cause losses for both parties. As evidence, Monopoly Air cites the fact that, even now, its planes are not fully booked. Hence, it argues that the market is not large enough to sustain two, efficient-sized air carriers. Evaluate the argument put forth by Monopoly Air based on the following two accounts.a. What problems do you see in its logic?b. What information would you ideally like to have in order to determine whether this market is a natural monopoly?
The problems in the logic argued by Monopoly Air is that it fails to take into account:
The prices that it charges could be the reason for lower passengers A natural monopoly is not enforced by the government A lack of passengers is not reason enough for the government to prevent Upstart Airways from entering the market.Information to determine a natural monopoly include economies of scale, higher barriers to entry, and limited competition.
Why is Monopoly Air wrong ?Monopoly Air is wrong because it is trying to get the government to enforce a natural monopoly which should only be enforced by market conditions such as limited competition.
It fails to realize that the prices it charges people might be the reason they have less passengers and that more competition could force them to be more innovative thereby acquiring economies of scale.
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assuming the banking system has limited reserves, an increase in the money supply is most likely to have which of the following short-run effects on real interest rates and real output?
an increase in the money supply is most likely to have Real Interest Rates effects on real interest rates and real output.
How much money is available?The money supply is referred to as the entire amount of currency in circulation in an economy. The term "circulating money" refers to cash, printed notes, money in deposit accounts, and other liquid assets. In macroeconomics, the term "money supply" refers to the total amount of money that the general public is holding at any given time. There are many ways to define "money," but the two most common metrics are demand deposits and currency in circulation.
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use the range names in formulas to find the total for each month. fill in the total for each month below.
The total expenses for each month can be found by summing the values in the corresponding row for each column. The totals are:
The total expenses calculated using range sum function in excel based on the given data. The sum function add all the values given in the specific range. Therefore, the expense for each month is given below that are calculated using sum function.
April: 41100
May: 41500
June: 42040
July: 45440
August: 46160
September: 44980
October: 40850
November: 40250
December: 39000
You can find the complete solution in the attached excel file. The question data is also provided in that excel file.
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true/false. issued by money-centered financial firms, these short- or medium-term insured debt instruments pay higher interest than a regular savings account. they are low-risk instruments and have low returns.
Issued by money-centered financial firms, these short- or medium-term insured debt instruments pay higher interest than a regular savings account. They are low-risk instruments and have low returns. This is a false statement.
What do the terms "money market" and "capital market" mean?Bills of Exchange, also known as commercial bills, Treasury bills, commercial papers, certificates of deposits, repurchase agreements, banker's acceptance, and call and notice money are examples of money market products. Stocks and bonds are characteristics of capital market instruments.
Which of the following items is traded on stock exchanges?Treasury bills and certificates of deposit are examples of short-term debt securities that are considered to trade in the money market. The capital market is where long-term debt securities are traded, including treasury notes and bonds, corporate and municipal bonds, and stocks.
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(100 POINTS!!!) What culture tends to exhibit their individualistic and independent tendencies by focusing more on the face in the photos, deemphasizing background and context?
A. Westerners (Americans)
B. Westerners (non-Americans)
C. East Asians
D. Europeans
WILL MARK BRAINLIEST
East Asians culture tends to exhibit their individualistic and independent tendencies by focusing more on the face in the photos, deemphasizing background and context.
What is East Asians culture?
The collective and varied customs and traditions of art, architecture, music, literature, lifestyle, philosophy, politics, and religion that have been observed and upheld by the different ethnic groups of the Asian continent throughout prehistory are collectively referred to as Asian culture.
It is challenging to identify a particular Asian culture or universal components among the immense diversity that has emerged from many cultural fields and three of the four ancient River valley civilizations.
The continent is typically split into six geographical sub-regions, each of which can be distinguished by observable similarities in things like culture, religion, language, and a degree of ethnic homogeneity.
Central Asia, East Asia, North Asia, South Asia, Southeast Asia, and West Asia are among these regions.
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which of the following limits on the federal government's power to tax is implied but not stated in the constitution?
States are exempt from paying taxes for their administrative costs is the limit on the federal government's power to tax is implied but not stated in the constitution
What is the federal government?
A federal system of government is one in which a bigger central authority and smaller local and regional administrations are subordinate to it. The Constitution of the United States established the federal government's authority. Federal governments that work best in vast nations with a wide diversity of their population, but where a common culture still persists and binds everyone together, are perfect examples.
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