A Voucher System Is Used by Many Large Companies as a Means

question 179

True/False

A voucher system is used by many large companies as a means of controlling cash receipts.

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Definitions:

Marginal Tax Rate

Marginal Tax Rate is 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.

Total Income

The sum of all earnings and other forms of income received by an individual or entity over a period of time.

Average Tax Rate

The percentage of total income that is paid in taxes.

Marginal Tax Rate

The percentage of tax applied to your next dollar of income, indicating the rate at which your last dollar earned is taxed.