Which of the Following Is a Characteristic of a More

question 462

Multiple Choice

Which of the following is a characteristic of a more efficient tax system?

• A)The system minimizes deadweight loss.
• B)The system raises the same amount of revenue at a lower cost.
• C)The system minimizes administrative burdens.
• D)All of the above are correct.

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Definitions:

Flexible Budget

A budget that adjusts or flexes with changes in volume or activity levels of a company.

Master Budget

A comprehensive financial planning document that includes all of an organization's budgets and financial plans.

Total Budgeted Fixed Costs

The sum of all costs that do not change with the level of production or sales over a certain period.

Master Budget

The master budget is a comprehensive financial planning document incorporating all other budgets, which outlines an organization's financial and operational goals.