INSTRUCTIONS: Choose the Word or Phrase in [ ] Which

question 93

Multiple Choice

INSTRUCTIONS: Choose the word or phrase in [ ] which will correctly complete the statement.
-The best loan rates for consumer loans are usually from [savings and loan associations | consumer finance companies].

• A)for the first item
• B)for the second item
• C)if neither item will correctly complete the statement.

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Definitions:

Income Tax Schedule

A chart or table that displays tax rates applied to different levels of taxable income, used to calculate the amount of income tax owed.

Marginal Tax Rate

The rate at which the last dollar of income is taxed, indicating the percentage of tax applied to your income for each tax bracket in which you qualify.

Taxable Income

Taxable income is the portion of an individual's or company's income used as the basis to calculate the taxes owed to the government.

Average Tax Rate

The ratio of the total amount of taxes paid to the total taxable income, indicating the portion of income that is paid in taxes.