The Formula =ROUNDUP(G5,0) Can Be Used to Round Up 59

question 118

True/False

The formula =ROUNDUP(G5,0) can be used to round up 59.425, entered in cell G5, to 60

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Definitions:

Regressive

A term typically used to describe a tax system where the tax rate decreases as the taxable amount increases, disproportionately affecting those with lower incomes.

Marginal Tax Rate

The rate at which the last dollar of income is taxed, reflecting the percentage of an additional dollar of income that is paid in tax.

Taxable Income

The amount of an individual's or company's income that is subject to taxes, after all deductions and exemptions are applied.

Average Tax Rate

The percentage of total income paid in taxes, calculated by dividing the total tax paid by the taxpayer’s total income.