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Alenkinab [10]
3 years ago
14

A _________________________ is calculated as a flat percentage of income earned, regardless of level of income.

Business
2 answers:
Korvikt [17]3 years ago
7 0

Answer:

(C) proportional tax

Explanation:

A proportional tax is that tax system whose tax rate is always the same, regardless of the tax base, the same tax rate will always apply. It is the opposite of progressive tax.

These types of taxes do not establish differences depending on the level of income of people. Unlike the progressive taxes, the same percentage will always be applied to the tax base. Unlike progressive taxes, proportional taxes do not fulfill a redistribution of income function.

Monica [59]3 years ago
4 0

Answer: C

Explanation:

A proportional tax is an income tax system where the same percentage of tax is levied on all taxpayers, regardless of their income. A proportional tax applies the same tax rate across low, middle, and high-income taxpayers.

In contrast, the progressive tax system adjusts tax rates by incomes. A marginal rate taxing system, such as the flat tax, has a constant rate for both businesses and individual taxpayer . In some instances, a sales tax can also be considered a type of proportional tax since all consumers, regardless of earnings, are required to pay the same fixed rate. The sales tax rate applies to goods and services, and the income of the purchaser is not a part of the equation. Other examples include poll taxes and the capped portion of the Federal Insurance Contributions Act (FICA) payroll deductions.

In a proportional tax system, all taxpayers are required to pay the same percentage of their income in taxes. For example, if the rate is set at 20%, a taxpayer earning $10,000 pays $2,000 and a taxpayer earning $50,000 pays $10,000. Similarly, a person earning $1 million would pay $200,000.

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Prepare a one page memo for your boss briefly summarizing how you concluded the meeting. More importantly, recommend to your bos
grigory [225]

Answer:

Memo for business promotion

Explanation:

To : Manager

From : Finance Officer

Subject : Actions for moving forward

The business meeting has been concluded successfully and minutes of the meeting is prepared in the document. The business needs to be moved forwards as there are many competitors entering in the market. The business need to focus on introducing new products which are demanded by the customer and allow some customization according to customer needs. The packaging of the products also needs to be revised as the presentation is also important for customer to make a buy decision. The business profits will increase and the sales will be high.

Further minutes of the meeting are attached with the memo.

Sign: Edward,

7 0
2 years ago
Sanchez Company's output for the current period was assigned a $400,000 standard direct labor cost. The direct labor variances i
o-na [289]

Answer:

$406,000

Explanation:

Calculation to determine the actual total direct labor cost for the current period

Using this formula

Actual direct labor cost=Standard direct labor cost + unfavorable rate variance - favorable efficiency variance

Let plug in the formula

Actual direct labor cost=$400,000 + $10,000 - $4,000

Actual direct labor cost= $406,000

Therefore the actual total direct labor cost for the current period is $406,000

5 0
3 years ago
Astro Co. sold 20,500 units of its only product and incurred a $67,750 loss (ignoring taxes) for the current year as shown here.
maksim [4K]

Answer:

Break even point in dollar sales = $1,050,000

Explanation:

Break Even Point in dollar sales = Fixed Cost/ Contribution margin percentage

Contribution margin percentage = (Contribution margin/ Sales) X 100

Here we have for the year 2017

Contribution margin = $194,750

Sales = $779,000

Contribution margin percentage = ($194,750/$779,000) X 100 = 25%

Break even point in dollar sales = Fixed Cost $262,500/25%

= $1,050,000

3 0
3 years ago
The day-to-day living conditions of modern Americans are very different from what they were in the 20th century. While doing res
IRINA_888 [86]

Answer:

B) There has been economic growth in our society.

Explanation:

The American economy has consistently been the largest economy in the world since 1871, while the rest of the economic podium has changed a lot. Currently the Chinese economy is number 2, but just a few years ago the Japanese economy was on second place. The United Kingdom is currently a large economy, but it was number 1 before the US, and then it continued to fall to the sixth place. Argentina was once of the largest economies and richest economies in the world, and now it is a developing nation.

The only constant position (at least until China surpasses the US) during the last 150 years has been the US at number 1.

That doesn't mean that the US economy grew every year and there were no recessions. The largest global recession originated in the US in 1929, the Great Depression. And just a few years back, in 2008 the Great Recession hit the US. The US has suffered from several minor recessions as well.

3 0
3 years ago
A government policy that sets the highest price that can be charged for a good or service is a __________.
trasher [3.6K]

Answer:

B. price ceiling.  

A government policy that sets the highest price that can be charged for a good or service is a price ceiling.

3 0
3 years ago
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