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Naily [24]
2 years ago
7

progressive taxes operate on the assumption that those with _____ can afford to contribute a higher percentage of their income i

n taxes.
Business
2 answers:
vladimir1956 [14]2 years ago
6 0

The principle of progressive taxes is based on the assumption that those with higher incomes can afford to contribute a higher percentage of their incomes in taxes.

The principles for a progressive tax system are:

  • tax paid is based on the taxpayer's ability
  • a lower tax rate is imposed on low-income earners
  • it is not regressive and does not use a flat rate
  • creates tax brackets, grouping taxpayers by income ranges.

Thus, the progressive tax system operates with the assumption that the <em>higher the income, the higher the tax paid.</em>

Learn more: brainly.com/question/23494200

EastWind [94]2 years ago
4 0

Progressive taxes operate on the assumption that those with <u>higher income</u> can afford to contribute a higher percentage of their income in taxes.

Taxation can be defined as the involuntary or compulsory fees that are usually levied on individuals or business entities by the government, so as to generate revenues used in funding public institutions and activities.

Generally, there are three (3) types of taxation used by the government and these are;

1. Regressive taxation

2. Proportional taxation.

3. Progressive taxation.

A progressive taxes involves charging or levying individuals that are having <u>higher incomes</u> a higher percentage of their total income in taxes.

  • For example, Citizen John pays 30% on $60,000 and Citizen Ann pays 14% on $26.000.

Read more: brainly.com/question/16477816

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Owen plans to open Owen's Pets Store, a pet supplies outlet, and to hire Quinn and Ruth. Owen will invest only his own money. He
rusak2 [61]

Owen plans to open Owen's Pets Store, a pet supplies outlet, and to hire Quinn and Ruth. Owen will invest only his own money. He does not expect to make any profit for at least two years and to make almost no profit for the first three years, but he hopes to expand eventually. Which form of business organization would be most appropriate Owen employs few workers and is not expected to earn profit for the first few years. Although, he still hopes to expand his outlet. In this case, a sole proprietorship is the best option because it is easier and cheaper to start a company. The business owner is free to make all decisions without any consultations. The sole proprietorship earns moderate profits and does not require huge funds in the near future. Owen employs only Quinn and Ruth to run the pet store, which means that it is a comparatively small outlet and does not require huge funds for its financing. Owen will enjoy one more advantage of paying a single tax. This means that the owner (Owen) is required to pay tax either on profits or personal income. This is because, in this organization, the owner and the business are the same entity. The earnings from the business are the personal income of the owner.

<h3>What is business organization?</h3>

The word "business organization" refers to the organizational structure of businesses and how such structure aids in achieving their objectives. Businesses are often built to concentrate on either making a profit or helping society. A company is considered a for-profit entity when it prioritizes making money. An organization is referred to as a nonprofit (or not-for-profit) organization and is not often called a business when it aims to further the social good through the arts, education, health care, or some other sector.

To learn more about business organization from the given link:

brainly.com/question/24734641

#SPJ4

5 0
2 years ago
Mary begins an internship at a small company that makes touchscreens for imported smartphones. Her first assignment is to estima
vova2212 [387]

Answer:

Mary should answer that more than half of the boxes not be rejected.

Explanation:

Probability:

Box has one defective screen = 0.6

Box has three defective screen = 0.4

no. of screens in a box = 8

The box is rejected if both of the inspected screens are defective.

Probability of rejecting a box:

=0.6\times\frac{1}{8}\times\frac{0}{7} + 0.4\times\frac{3}{8}\times\frac{2}{7}

= 0.04286

Only 4.286% of the boxes will be rejected.

Therefore, Mary should answer that more than half of the boxes not be rejected.

6 0
2 years ago
Demand for consumer goods is necessarily variable. Forecasting the demand for consumer goods is an important business activity,
bija089 [108]

Answer:

7.5 to 467.5.

Explanation:

Please note that In order to be fast, I make use of excel during the Calculation.

So, the first thing to do is to make sure that the observation is arranged in an increasing order.

Step one: Calculate the value for J1 and J3.

Know that J1 = J3. Where J3 = 3rd quartile.

Hence, J1 = 1st QUARTILE = QUARTILE. EXC (data, 1) = 18.

Also, J3 = QUARTILE. EXC(data, 3). = 29.5.

Therefore, the difference between the first quartile and the third QUARTILE = 29.5 - 18 = 11.5.

Step two: calculate the value for the higher fence and the lower fence respectively.

Thus, for the higher fence we have;

J3 + 1.5( 11.5).

= 29.5 + 1.5(11.5).

= 46.75.= (46.75 × 10) = 467.5).

Then, for the lower fence;

J1 - 1.5( 11.5).

= 18 - 1.5(11.5).

= 0.75 = (.75 × 10) = 7.5.

3 0
3 years ago
Which of the following is an advantage of partnerships over sole
miss Akunina [59]

The correct answer is A.

Partnerships are at an advantage over a sole proprietorship in terms of raising money. While a sole proprietorship only has the money from the proprietor, a partnership has money from all of the partners.

7 0
3 years ago
Read 2 more answers
The U.S. Department of Agriculture guarantees dairy producers that they will receive at least $1.00 per pound of butter they sup
Roman55 [17]

the price is 546

because you add all that and you get that muchh

3 0
3 years ago
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