A Federal and State Tax Levied on the Privilege of Making

question 35

Multiple Choice

A federal and state tax levied on the privilege of making gifts to others is called a(n) ________ tax.

• A)estate income
• B)trust income
• C)inheritance
• D)gift
• E)estate

Understand the concept of fixed, variable, and mixed costs.

Apply the high-low method to determine fixed and variable components of costs.

Identify the behavior of variable costs per unit with changes in production levels.

Determine the impacts of cost behavior on product pricing and profitability.