Table 12-14 -Refer to Table 12-14. the Tax System Is

question 168

Multiple Choice

Table 12-14
-Refer to Table 12-14. The tax system is

• A)progressive.
• B)regressive.
• C)proportional.
• D)lump sum.

---

Definitions:

Subsidiary

A company controlled by another company, known as the parent company, usually through ownership of more than 50% of its voting stock.

Indirect NCI

An accounting term referring to the portion of equity in a subsidiary not directly attributable to the parent company, calculated on a proportional basis.

Ownership Interest

A stake or share in an asset or entity, giving the holder a claim to a portion of its equity or assets and possibly a share in its profits.

Limited

A form of corporate structure whereby the shareholders' liability is limited to the capital they have invested in the company.