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2 years ago

What term is used when those who benefit most from the stadium bear the highest tax burden?

Business

1 answer:

defon2 years ago

6 0

Progressive Tax is used when those who benefit most from the stadium bear the highest tax burden.

<h3>What is Progressive Tax?</h3>

Progressive taxes are levied at a higher rate as the taxable amount rises. When a tax rate progresses from low to high, it is said to be progressive.
As a result, a taxpayer's average tax rate is lower than their marginal tax rate. The phrase can be used to describe both individual taxes and an entire tax system.
Progressive taxes are implemented in an effort to lessen the impact of taxes on those who have a lower ability to pay because they gradually shift the incidence to those who have a higher ability to pay.
Regressive taxes, like sales taxes, are the antithesis of progressive taxes since they require the poor to contribute a higher percentage of their income than the wealthy.

To learn more about Progressive Tax with the given link

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$5,000

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Fofino [41]

Answer: C. Purchase facultative reinsurance and write the policy

Explanation:

The options are:.

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B. Decline the business for reinsurance reasons

C. Purchase facultative reinsurance and write the policy

D. Cede the policy to the existing treaty if the risk is acceptable

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3 years ago

Asset Management Ratios Corn Products, Corp. ended the year 2008 with an average collection period of 45 days. The firm's credit

miss Akunina [59]

Answer:

The ending balance of accounts receivable is 1,171,393

Explanation:

Given,

Average collection period = 45 days

Net credit sales = $9.5 million.

We know,

Accounts receivable turnover = Net Credit Sales/Average Accounts Receivable .............(i)

Again, we know,

Average collection period = 365 days/Accounts Receivable Turnover

or, 45 days = 365 days/Accounts Receivable Turnover

or, Accounts Receivable Turnover = (365/45) days

or, Accounts Receivable Turnover = 8.11 times

Putting the value of Accounts Receivable Turnover in equation (i),

8.11 times = $9.5 million/Average Accounts Receivable

Average Accounts Receivable = $9,500,000/8.11

Therefore, Average Accounts Receivable = $1,171,393

Since there is no beginning Accounts Receivable information, $1,171,393 is the year-end accounts receivable.

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3 years ago