Sally earns 330,000 annually, and claims 3. How much in FICA taxes does she owe?

Answers

Answer 1

According to the current rules, FICA taxes are divided into two categories:

Medicare and Social Security taxes.

Sally's employer will deduct both taxes from her pay.

How much should Sally Pay?

Because she earns above $200,000 she will pay Social Security at the rate of:

0.9% x 330,000

= $2,970; and

and Medicare at the rate of 1.45% that is:

1.45% x 330,000

= $4,785.

Given that FICA = Social Security + Medicare:

Sally, therefore, owes:

$2,970+$4,785

= $ 7,755

What is FICA?

The "Federal Insurance Contributions Act" (FICA) is a government payroll payment levied on both employees and employers in the United States to finance Social Security and Medicare—federal programs that give benefits to retirees, persons with disabilities, and children of dead workers.

Is the FICA tax paid by everyone?

FICA taxes are paid by almost everyone, including resident aliens and many nonresident aliens. It makes no difference whether you work part-time or full-time. There are, however, certain exceptions. College students, for example, are exempt from paying FICA taxes on earnings earned from on-campus jobs.

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Related Questions

Property, plant, and equipment and intangible assets are typically classified as _____ assets.

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Property, plant, equipment, and intangible assets are typically classified as Fixed assets.

What are fixed assets?

Fixed assets provide the business with long-term financial gain because of their prolonged useful lives. Fixed assets, often known as capital assets, are identified by the line item Property, Plant, and Equipment on the balance sheet. It is challenging to convert fixed assets into cash.

A company aims to use fixed assets in the long run to generate income."Property, plant, and equipment" is the most common term for fixed assets.A current asset is one that will likely be used or sold for cash within the next year.Noncurrent Assets also comprise intangibles and long-term investments in addition to fixed assets.Intangibles are amortized, whereas fixed assets are subject to depreciation to account for the decrease in value as the assets are utilized.

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Because many countries are investing in countries other than their own, each country is becoming more autonomous and independent. true false

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That claim is false. Each country is NOT becoming more autonomous and independent if it is investing in other countries than their own. That should go without saying, I believe.

It should be fairly self-explanatory and obvious that a nation that refuses to invest on its own country is not autonomous or independent. 

How can you be self-reliant and self-sufficient in the face of your own sovereign if you don't believe in your own resources and potential?

It is good to have domestic consumers who demand more from businesses and often push those national industries ahead of those in other nations where consumers are less demanding and lack interest.

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In the library of a small town, the mean cost of new books is the same as the median cost of new books. the distribution of book costs is:_________

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In the library of a small town, the mean cost of new books is the same as the median cost of new books. the distribution of book costs is: symmetrically distributed.

What is the meaning of symmetrical distribution?

This is what happens when the value of a particular variable are known to happen in a way that they would be at regular frequencies and would also have to occur at the same point. This is when it has to do with the mean, the mode and the median.

Hence we can say that In the library of a small town, the mean cost of new books is the same as the median cost of new books. the distribution of book costs is: symmetrically distributed.

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The category of information system that is used to process business event data at the operational level of the organization is __________.

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The class of records system this is used to procedure business event facts at the operational stage of the corporation is Transaction processing structures (TPS).

A transaction process system (TPS) is a facts processing gadget for enterprise transactions regarding the gathering, change, and retrieval of all transaction records. characteristics of a TPS include overall performance, reliability, and consistency. TPS is also known as transaction processing or real-time processing.

Transaction processing is a manner of computing that divides paintings into individual, indivisible operations, called transactions. A transaction processing device is a software program gadget, or software program/hardware mixture, that supports transaction processing.

A Transaction processing structure (TPS) is an automated system that performs and information the everyday ordinary transactions important to behavior enterprise. Examples are sales order entry, motel reservation structures, payroll, employee document retaining, and delivery.

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Is the company's market-to-book ratio meaningful? is its book debt-equity ratio meaningful? explain

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Because the book value of equity is negative in this case, Clorox's market-to-book ratio and its book debt-equity ratio are not meaningful. Its market debt-equity ratio may be used in comparison.

What is debt-equity ratio?

The debt-to-equity ratio is a financial metric that shows how much debt and shareholder equity were utilized to finance the assets of a company. The ratio, often known as risk, gearing, or leverage, is closely related to leveraging. The debt-to-equity (D/E) ratio demonstrates how much equity and debt are being used by a company to finance its assets. The D/E ratio indicates the capacity of shareholder equity to pay creditors in the case of a corporate downturn. Debt to Equity Ratio = Total Debt / Shareholder Equity is a quick formula. Long formula: Shareholders' equity / (short term debt plus long term debt plus fixed payment obligations).

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Generally, all stakeholders agree that there is a problem and on what the problem is before beginning the dmaic process. True or false?.

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Before starting the DMAIC process, most stakeholders are in agreement that there is a problem and what the problem is.

The given statement is false:

The DMAIC method · outline the hassle, improvement interest, opportunity for development, the mission desires, and consumer (internal and external) requirements.decide the vital elements in your commercial enterprise process's success. To gauge the effectiveness of the system, define process metrics. you can enhance this system' performance the use of the six sigma technique. A rational, organized approach to improving company operations is six sigma.The Greek letter "Sigma," used in facts, expresses how a ways a procedure deviates from ideal behavior. Sigma is any other name for the procedure's preferred deviation from the imply. An business enterprise can use the Six Sigma manner to rely the "defects" in a procedure, locate methods to get rid of them, and as closely as feasible to "zero defects"increasing the effectiveness and high-quality of the agency presents demanding situations for managers. with a view to prevail, they ought to positioned the pleasant technique and gear for procedure evaluation and manipulate into use. The pinnacle The system ought to be improved so one can enhance the final results.

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Name two expectations customers have that are part of the customer buying criteria.
a. price and customer
b. awareness positioning and price
c. age and customer accessibility
d. reliability and quality

Answers

Price and awareness positioning are the right response.

BUYING CRITERIA AND IMPORTANCE ARE NOT THE SAME.

Most individuals will respond "safety" when asked what factor they consider most important when picking an airline. The same person won't say "safety" when you ask what factors they consider when buying a ticket because safety is taken for granted. Security is a given. A buyer's criterion could include a wide range of factors, including cost, delivery time, service accessibility, place of manufacture, etc. Additionally, you need to comprehend the relative importance that each criterion has in the industry. Although the quickness of delivery is given more importance than the low price, it may still be a factor.

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A treasury security in which periodic coupon interest payments can be separated from each other and from the principal payment is called a:________

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A STRIP is a Treasury securities that allows periodic coupon interest payments to be decoupled from one another and from principal payments.

Nothing communicates the safety of primary more effectively than Treasury securities when it comes to conservative investments. These products have served as the last line of defense against any potential principal loss for decades, serving as a stronghold of safety in the turmoil of the investing markets. These assets' guarantees are in fact considered as one of the major pillars of both the local and global economies, and they are appealing to both individual and institutional investors for a variety of reasons.

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The demand curve for macadamia nuts is downward sloping. this slope is because consumers maximize their utility and an increase in the price of macadamia nuts leads to?

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The demand curve for Macadamia nuts is downward sloping. this slope is because consumers maximize their utility and an increase in the price of macadamia nuts leads to "Macadamia nuts increase the marginal utility per dollar."

What is demand curve?

The demand curve depicts the relationship between both the price of a good or service and thus the quantity demanded over a given time period.

Some key points related to demand curve are-

The demand curve would then move downward from left to right, expressing the law of demand—as the price of a given commodity rises, so does the quantity demanded, all else being equal.It is important to note that such a formulation assumes that price is indeed the independent variable and quantity is the dependent variable. Most disciplines place independent variables on the horizontal or x-axis, but economy is an exception.For instance, if a price of corn rises, customers will be incentive to purchase less corn but also replace it for other food products, resulting in a decrease in total corn consumer demand.

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If dallas company billed a client for $16,000 of consulting work completed, the accounts receivable asset increases by $16,000 and:_____.

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If Dallas company billed a client for $16,000 of consulting work completed, the accounts receivable asset increases by $16,000 and: revenue

What are impact of billing a client for consulting work?

The fact that a client is billed for work completed with an increase in assets, precisely, accounts receivable means there should a corresponding entry in another account class.

There would also be an increase in sales revenue because by billing for consulting work completed, in other words, performance of consulting services implies that the Dallas company has earned revenue regardless of whether or not the cash related to the transaction has been collected.

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An organization that writes liability insurance to cover the liability exposure for the mining engineers that belong to its associations is:_______

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Risk Retention Group is an organization that issues liability insurance to cover the liability exposure for the mining engineers who are members of its associations.

Liability insurance is a type of insurance that shields an insured party against lawsuits brought about by injury to third parties and property damage. Any legal fees and payouts that an insured party is accountable for in the event that they are held legally liable are covered by liability insurance policies. Liability insurance coverage typically do not cover intentional harm or contractual obligations. Liability insurance policies compensate third parties, not policyholders, unlike other forms of insurance.

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A long-term note is valued at its:____.
a. present value.
b. market value.
c. maturity value.
d. face value.

Answers

Option [D] is the correct option.

A long-term note is valued at its face value.

What Is Face Value?

When a corporation places stock or a bond on the market, par value, also known as face value, is a "static value" that is allocated. Par or face value, on the other hand, is constant. The stock or bond certificate will have the par value printed on it.

The dividend is calculated based on the par value of the preferred stock. However, since investors cannot purchase or sell shares at the par value, it is not especially important to them. Rather, common stock investors pay market value, which is established by supply and demand.

The par value of the majority of bonds is $100 or $1,000. Bond market value, which may be more or less than par value, is determined by interest rates and credit ratings.

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a broker acts as an agent in all of the following functions except: select one: a. leasing property b. selling property c. appraising property d. exchanging property

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A broker acts as an agent in all of the following functions except: exchanging property.

Broker is a term which is used for an individual who charges a commission for executing buy and sell orders. They play an important role for guiding the buyer through all the related paperwork.

The one of the most important function of a broker is only to solve a client's problem for some fee. Secondary functions are such as  lending to clients for margin transactions, and it also involves providing information support regarding the situation on trading platforms.

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When lives are in danger, supply chain inefficiencies may result in suffering and/or casualties. helping people in need around the world is part of which emerging field?

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Helping people in need around the world is part of which emerging field Humanitarian supply chain management

What exactly does "humanitarian supply chain management" imply??

The correct management of aid supplies for disaster victims is known as humanitarian supply chain management (HSCM), which aims to lessen their suffering and assist in the rehabilitation of the affected people.

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Sammy salt is an exempt employee and earns $275,000 per year. if sammy was paid on a weekly basis, what would his gross pay be? (course outcome ii / learning outcome ii)

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Sammy salt is an exempt employee and earns $275,000 per year. If Sammy was paid on a weekly basis, his gross pay will be $5,288.46

Who is an exempt employee?

A person who is exempt from overtime pay or minimum wage regulations is referred to as an exempt employee (or both). Due to the specific duties and obligations that they have, exempt personnel is placed in a distinct category.

The exemption is typically present in international legal frameworks as well as American labor regulations. The law is known as the Fair Labor Standards Act in the United States (FLSA). Its main objective was to establish a federal standard for how salaries and hours should be determined for both private and governmental employers.

Other types of workers may also be exempt from earning overtime pay in addition to the principal exempt categories. These include farm workers, movie theater employees, some nonmetropolitan broadcast station staff, taxi drivers, railroad, motor carrier, and American vessel employees, as well as commissioned sales personnel working for retail or service businesses.

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Alex decided to spend an hour drying her hair rather than studying. her opportunity cost is:______. group of answer choices

Answers

The opportunity cost of Alex's decision to spend an hour drying her hair instead of studying is the improvement in her grades from an hour of study.

Opportunity costs are the possible advantages that a person, investor, or company forgoes while deciding between two options. Opportunity costs are by definition invisible, making it simple to ignore them. Making smarter decisions requires an understanding of the possible opportunities lost when a company or person selects one investment over another. The difference between the anticipated returns of each alternative is all that needs to be considered when estimating an opportunity cost. The determination of a company's capital structure involves opportunity cost analysis in a significant way.

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The organization of data within folders in a manual file system is determined by?

Answers

The organization of data within folders in a manual file system is determined by its expected use.

What is data?

Data are information that are store on a computer which are relevant for decision making process.

Data that are store within folders when making use of manual filling system instead of computerize system can tend to be determine by their expected usage. The organized data can manually be  access during decision making process.

Therefore The organization of data within folders in a manual file system is determined by its expected use.

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When a manager answers a subordinate's question regarding the process of creating a report from raw data, they are relying on their _____ skills.

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A manager is using their Technical skills when they respond to a subordinate's query about the steps involved in building a report from scratch.

Technical skills are the knowledge and aptitude required to carry out particular activities. They are useful and frequently pertain to activities in the mechanical, information technology, mathematics, or scientific fields. Knowledge of programming languages, design software, mechanical devices, or tools are a few examples.

Your command of job-specific abilities, in addition to the technical skills required in the workplace, can help ensure you are recruited or promoted. Technical, hard, and job-specific abilities are frequently interchangeable but not always of Technical skills.

Naturally, the abilities needed may differ depending on the position for Technical skills which you are applying, so be particular when identifying any hardware, software, programs, applications, etc.

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There are four leadership constructs in the transformational leadership model by burns and bass. one of their constructs is?

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The Burns and Bass Transformational Leadership Model includes four leadership constructs. Individualized Consideration is one of their constructs.

The capacity to influence and direct followers or other members of an organization is referred to as leadership. Making wise and occasionally challenging decisions, defining and communicating a clear vision, setting realistic goals, and empowering subordinates with the information and resources they need to reach those goals are all aspects of leadership. Most facets of society, including business, politics, local communities, and nonprofit groups, demand leaders. Successful leadership paves the way for followers to follow. It establishes a course, creates a vision, and changes course as needed. Developing a strategy for your team to "win" involves leadership.

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When podcasts are used internally in an organization, how are they used? check all that apply.

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When podcasts are used internally in an organization, they are used as communication tools.

Podcasting has been adopted by businesses to broadcast repetitious information that does not require engagement.

Some businesses, for example, utilize podcasts to broadcast HR rules that may be accessed on demand. Podcasts are mostly used to develop and distribute a series of educational films and audio casts to internal and external clients.

What are Podcasts?

A podcast is a collection or series of digital audio recordings that may be downloaded or listened to through the Internet.

A podcast episode is the name given to each individual audio recording. Podcasts are usually hosted by one or more people who conduct a conversation, tell anecdotes, or report the news.

What is the disadvantage of a podcast?

The downsides of podcasting include time commitment, inability to search, accessibility issues, and a small audience. Podcasts take a long time to download, especially if the file is enormous. It is not always simple to find podcasts.

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Preferred stock can be issued to raise money without giving up control. True or false

Answers

Answer:

True

Explanation:

Which kind of data warehouse is created separately from the enterprise data warehouse by a department and not reliant on it for updates?

Answers

Independent Data Mart is created separately from the enterprise data warehouse by a department and not reliant on it for updates

What is an independent data mart?

Data marts are one of the keys to effectively converting information into insights in a market dominated by big data and analytics. Large data sets are normally dealt with by data warehouses, yet easy-to-find and immediately available data are needed for data analysis. Should a business person have to run difficult queries in order to acquire the data they require for their reports? No, which is why savvy businesses employ data marts.

Often a partitioned section of an enterprise data warehouse, a data mart is a subject-oriented database. Typically, a data mart's subset of data corresponds to one particular business unit, such as sales, finance, or marketing.

Data marts speed up business processes by enabling quick access to pertinent data in a data warehouse or operational data store, rather than having to wait months or more. A data mart is an economical way to quickly obtain useful insights because it only includes the data relevant to a certain business area.

Thus, it is a data mart where the data warehouse is created separately from the enterprise data warehouse by a department and is not reliant on it for updates.

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jill is selling her property and hired david as her agent. david brings another client, kirk, to see the property, which kirk is interested in purchasing. what kind of agent is david acting as in this scenario?

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David is acting as a dual agent here.

A dual agent is a person who represents the both  buyer as well as the seller in any transaction. Dual agents and designated agents are generally confused. However unlike a dual agent  assigned agents are those two individuals who represent the buyer and the  seller separately.

The assigned agents may also work for the same brokerage firm.

With the  assigned agents one can also rest assured that someone is looking out for the best interests. As a result of this  many buyers and sellers choose to work with a specific agent in order to ensure that their realtor is  an actively looking  person for their best interests.

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Because income measurement involves ________, net income from different companies may not be able to be compared directly.

Answers

Answer: judgement

solution:

Limitation

An employee organization that represents hourly workers as opposed to salaried employees is called a(n) ______.

Answers

An employee organization that represents hourly workers as opposed to salaried employees is called a union.

What is union?

Labor unions and trade unions are organizations started by workers in related fields to advance the interests of their members. They offer support to workers on issues like pay parity, fair working conditions, and benefits.

The benefits you cherish, such as appropriate salary increases, affordable health insurance, job security, and a regular schedule, are guaranteed by a contract that is created and upheld by union members and management. speaking at work. better working conditions, free from retaliation worries.

An illustration is the merging of two people. An example of a union is a group of autoworkers who have united to negotiate the terms of their collective bargaining agreement. either the act or state of being united.

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Warranties are commonly kept with ____________ purchase and automobile records in a home file.

Answers

Warranties are commonly kept with  Consumer purchase and automobile records in a home file.

What is Warranties?

A warranty  can be described as the  type of guarantee  which manufacturer  do give the the consumer regarding the condition of its product.

It should be noted that this is the  terms and situations  that the  repairs or exchanges will be made if the product malfunction .

Therefore, Warranties are commonly kept with  Consumer purchase and automobile records in a home file.

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A declaration or public statement of professional standards of right and wrong conduct- subscribed to by the members of an association-defines a(n)?

Answers

A declaration or public statement of professional standards of right and wrong conduct- subscribed to by the members of an association-defines Code of Ethics.

What is Code of Ethics?

A code of ethics is a set of rules intended to help professionals conduct themselves in an honest and morally upright manner. A code of ethics document may describe the goals and objectives of the corporate or organization, the methods that experts should use to unravel challenges, the moral standards that the company or organization upholds, and other information.

An "ethical code," often referred to as a code of ethics, may cover topics including corporate ethics, a code of professional practice, and an employee code of behavior.An organization's ethical standards and best practices for honesty, integrity, and professionalism are outlined during a code of ethics.The consequences of breaking the organization's code of ethics for members might include termination.

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When an electronics company sells its global positioning systems to a car manufacturer, it is engaged in ________ marketing. multiple choice

Answers

When an electronics company sells its global positioning systems to a car manufacturer, it is engaged in B2B marketing.

What is B2B marketing?

Business marketing is a form of marketing used by people or organisations. It enables users to sell goods or services to businesses or nonprofits that then resell them, incorporate them into their own goods or services, or use them to fund their endeavours. It is a means of advancing commerce and raising earnings as well. We've divided the many business customers in B2B marketplaces into four fundamental groups in order to provide you a better understanding of them: producers, resellers, governments, and institutions. It refers to any marketing tactic or piece of material used by one company to promote to and sell to another company. For instance, B2B marketing is frequently used by businesses that sell goods, services, or SaaS to other businesses or organisations.

Therefore,

When an electronics company sells its global positioning systems to a car manufacturer, it is engaged in B2B marketing.

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With all the money they could potentially win, the game show contestants were __________ to start playing.

Answers

The fill in the blanks is eager

A participant in a game or competition is referred to as a contestant. Many beauty pageants require their competitors to perform a skill, such as singing or dancing, in addition to being attractive. A contestant is a participant in a competition or someone who challenges an individual or an award. According to the case of Re Interest of LW v., a contender in a child custody dispute is "a person, including a parent, who claims a right to custody or visitation of a child." A contestant is a person who participates in a game or competition.

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Which bones permit the attachment of muscles that assist in arm movement and serve as a place for the attachment of the arms?

Answers

Scapulae permits the attachment of muscles that assist in arm movement and serve as a place for the attachment of the arms

Scapulae

The bone that joins the humerus (upper arm bone) with the clavicle is called the scapula, often known as the shoulder blade (collar bone). The scapulae are paired, with each one on each side of the body being approximately a mirror image of the other. This is similar to how their linked bones are paired.Our scapula is located where in our body?The huge triangular-shaped bone known as the scapula, or shoulder blade, is located in the upper back. An intricate network of muscles surrounds and supports the bone, which helps you move your arm.

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what is the perimeter in terms of x? in other words find the pereimeter. Why is plastic difficult to recycle? Explain in a mechanistic manner how a disruption in cell membrane can affect life. Read the excerpt from Greta Thunbergs speech at the United Nations Climate Action Summit.So a 50% risk is simply not acceptable to uswe who have to live with the consequences.To have a 67% chance of staying below a 1.5 degrees global temperature risethe best odds given by the [Intergovernmental Panel on Climate Change]the world had 420 gigatons of CO2 left to emit back on January 1, 2018. Today that figure is already down to less than 350 gigatons.How dare you pretend that this can be solved with just "business as usual and some technical solutions? With todays emissions levels, that remaining CO2 budget will be entirely gone within less than 8 1/2 years.How does the underlined rhetorical question support the claim that current efforts to reduce CO2 emissions are ineffective?by presenting a solution to the problems of not addressing CO2 emissions sooner by emphasizing that the audience is not trying hard enough to reduce CO2 emissionsby highlighting the pattern in global temperature rises that cause CO2 emissions to increaseby focusing on methods that would be most effective at immediately reducing CO2 emissions How to I do part (ii)? One important difference between service companies and manufacturing companies is that:________ How to write an history essay in grade 10 In western abrahamic religious cosmologies, heaven and earth are generally thought to be? Explain why V8 isa rational number, but 8 is not a rationalnumber. Exercise 2 Complete each sentence by adding an appropriate adjective in the space provided.I like any kind of ______________ lively music. Although the total distance the impulse travels in the reflex arc is less than 3metres. the time taken is more than 0.04 seconds. Suggest why the time taken ismore than expected. The negative impact (s) of pressure on students If you want to see many slide thumbnails on the screen at the same time, which view should you use? a. normal b. outlinec c. slide show d. slide sorter refer to the image please Please follow the directions. Dr. simon is observing several schizophrenic patients interact in a mental hospital ward without interfering. which type of observation is dr. simon using? if the losing party's assets are not liquid, or if the losing party is bankrupt, the prevailing party may have difficulty 8x=2 |6x -2| please show me the first step TRUE or FALSEOrgans are composed of multiple tissue types. What inference can be made about mrs. flowers in I know why the caged bird sings