The federal income tax is described as a progressive tax system because: <span>individuals who make more money, pay more taxes.
With this taxation income, the government are planning to spread the wealth in the country and used the excess of money from the upper income bracket to support those in the lower bracket</span>
Answer:
The procedure which would be performed by the accountant while reviewing the financial statements of a non issuer is C) obtaining a management representation letter.
Explanation:
When an accountant is performing the review of financial statements of a non issuer , then it is mandatory for the accountant to comply with the provision of SSARS ( Statement for accounting and review services ) . So while performing the review, accountant can make inquires about what actions were taken at the board of directors meeting and accountant can make this inquire by asking for a representation letter from management.