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Shtirlitz [24]
3 years ago
5

Which of the following is the defining feature of a progressive income tax system? Choose one: A. The marginal tax rate is const

ant across income levels. B. The marginal tax rate is low at low income levels and gets progressively higher as income levels increase. C. The marginal tax rate is low at low income levels and gets progressively higher up to a point. At very high income levels, the marginal tax rate falls. D. All individuals pay the same amount of taxes. E. The marginal tax rate is high at low income
Business
1 answer:
ELEN [110]3 years ago
6 0

Answer: Option B

   

Explanation: In simple words, it refers to a tax structure in which the tax payer is charged as per his or her ability to pay. Under this system , a lower tax bracket is applied for low income levels and high for high income levels.

The basic assumption for applying such structure is that the high class have earned that money from the resources of the lower class thus they have to give a higher share from their income so that the lower class could be developed from that money.

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Kim, a CPA, works for a small accounting firm consisting of two managing partners, six accountants and four secretaries. During
galina1969 [7]

Answer:

The company is NOT in anyway required to either make, offer or provide accommodations to Kim

Explanation:

Based on the information given the company is NOT in anyway required to either make, offer or provide accomodations to Kim reason been that the ADA only tend to applies to companies which has either 15 employees or employees that are higher or more than 15 employees in which the accounting firm which Kim work for did not fall under the category as well as the coverage of the act because the accounting firm is a small firm which we were told consist of 2 managing partners, 6 accountants as well as 4 secretaries making them 12 employees in total.

Therefore the company is NOT required to provide any accomodations to Kim

4 0
3 years ago
Last year's asset turnover ratio was 2.0. Sales have increased by 25% and total assets have increased by 10% since that time. Wh
Dmitriy789 [7]

Answer: d. 2.27

Explanation:

Asset Turnover = Total sales / Average Assets

Last years turnover ratio was 2.0 so assume Sales were $20 and Assets were $10 which would give the turnover of 2.0

The new turnover would be;

= (20 * 1.25)/(10 * 1.1)

= 25/11

= 2.27

6 0
3 years ago
Citizens file income tax is to a sure that they will receive ?
anastassius [24]

Answer:

Down below

Explanation:

Citizens file income taxes to ensure that they will receive a if they paid too much in taxes throughout the year. Employers supply a to help citizens file their tax returns.

5 0
3 years ago
On January 2, Novation Corp. replaced its boiler with a more efficient one. The following information was available on that date
grandymaker [24]

Answer:

$136,000

Explanation:

Purchase price of new boiler = $120,000

Carrying amount of old boiler = $10,000

Fair value of old boiler = $4,000

Installation cost of new boiler = $16,000

The selling cost of old boiler = $4,000

Now,

Capitalized cost of the new boiler

= Purchase price of the new boiler + Installation cost the new boiler

= $120,000 + $16,000

= $136,000

3 0
3 years ago
An ad in the newspaper claims that the price of milk will increase next week. At the same time, a new and improved pasteurizatio
Pepsi [2]

Equilibrium quantity will increase; the effect on price is ambiguous.

<h3><u>Explanation:</u></h3>

When there is a situation in which the supply and the demand for any product is equal then it is said to be Equilibrium quantity. When there is an intersection where the supply and demand curves meets each other it give rise to the state of equilibrium.

In the given example, there are two cases such as the price of the milk will rise which is published in newspaper and the production efficiency of the milk is improved with a new and improved pasteurization process. From these two effects we can conclude that Equilibrium quantity will increase; the effect on price is ambiguous.

5 0
3 years ago
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