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Alex
3 years ago
11

Categorizing U.S. taxes

Business
1 answer:
Sergeeva-Olga [200]3 years ago
5 0

Answer:

A

Explanation:

A regressive tax is a tax system where the same tax rate is applied uniformly. As a result, those earning less income are taxed higher than those earning more income.  

Sales tax is an example of a regressive tax.

If sales tax is 5%. Worker A earns $100 and worker B earns $1000. Both buy a good worth $50 before tax.  the sales tax is worth $2.5.

The tax comprises $2,5 / 100 = 2.5% of worker A's income and $2,5 / $1000 = 0.025% of Worker B's income.

It can be seen that worker A who earns less income is taxed higher

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Popular magazines and internet sources often use _____ to display information, which tends to confuse rather than clarify inform
zhuklara [117]
The appropriate response is pictorial graph. A pictograph utilizes picture images to pass on the importance of measurable data. Pictographs ought to be utilized painstakingly on the grounds that the diagrams may, either incidentally or intentionally, distort the information. This is the reason a diagram ought to be outwardly precise.
5 0
3 years ago
Fred takes a personal assessment that tells him that he would be great in the Agriculture, Food, and Natural Resources career cl
puteri [66]

Answer:

C. being outdoors, horticulture, raising animals

Explanation:

Horticulture refers to the process of cultivating trees, plant agriculture either for promoting recreational activities, for decoration or food purposes. If Fred takes interest in Agriculture, food and natural resources; that means he would practise horticulture as a career. Also, other source of foods which includes activities such as raising animals, fishing, hunting, etc would require Fred to be outdoor. The animals raised in outdoors are mostly farm animals.

7 0
3 years ago
term in 2013, bodily corporation reported $300,000 pretax accounting income. the income tax rate for that year was 30%. bodily h
Neporo4naja [7]

The Bodily corporation's income tax payable for the year 2013 will be $54,000 at 30% tax rate.

Given,

Pretax accounting Income: $300,000

Unused net operating loss =$120,000

Income tax rate = 30%

Bodily's income tax payable for 2013 would be =

(300000 -120000) *30% = $54000

A tax levied against people or organizations (taxpayers) in proportion to their income or profits is known as an income tax.  Tax rates multiplied by taxable income are typically used to calculate personal income taxes. Tax rates might change depending on the taxpayer's attributes and source of earnings.

As taxable income goes up, the tax rate might also (referred to as graduated or progressive tax rates). Corporation tax, which is often imposed at a fixed rate, is the name given to the tax charged on businesses.

The complete question is here:

In 2016, Bodily Corporation reported $300,000 pretax accounting income. The income tax rate for that year was 30%. Bodily had an unused $120,000 net operating loss carryforward from 2011 when the tax rate was 40%.

Bodily's income tax payable for 2013 would be:

a) $90,000

b) $72,000

c) $54,000

d) $42,000

Learn more about income tax here:

brainly.com/question/17075354

#SPJ4

5 0
1 year ago
Choose the option that correctly completes the statement: ""A change in depreciation method is considered a _________ and theref
Archy [21]

Answer:

Option B Change in accounting principle; retrospectively; required.

Explanation:

The reason is that the change is policies are considered in the international accounting standard IAS-8 Accounting policies, estimates and correction of errors. The standard says that the change in depreciation method is considered as a change in accounting policy which must be treated as retrospectively which means that the adjustments must be made to all the previous years using the same depreciation and must reflect the change in Changes in Wquity statement. This change in accounting policy as per the requirement s of the standard, must be disclosed in the notes to financial statements. Furthermore the changes in equity must only be opted if it increases the truth and fairness of the financial statement.

8 0
3 years ago
A one-year life insurance policy for a 25-year-old male costs $100 and pays $10,000 in case of death during the 25th year. NOTE:
Natali [406]

Answer:

The expected gain per policy for the insurance company is $80

Explanation:

According to the given data we have the following:

Outcome            death          No death

Net gain                     $-9900      $ 100

Probability               0.002     0.998

Therefore, in order to calculate the expected gain per policy for the insurance company we would have to calculate the following formula:

Expected Gain = (-$9900)*(0.002)+($100)*(0.998) = -19.8+99.8= 80

Expected Gain=-$19.8+$99.8=

Expected Gain=$80

The expected gain per policy for the insurance company is $80

6 0
3 years ago
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