Examlex
Which of the following cost concepts is correctly defined?
General Sales Taxes
A tax imposed on sales transactions, usually calculated as a percentage of the sales price and collected by the seller at the point of purchase.
Personal Income Taxes
Taxes levied on the income of individuals, typically graduated so that higher income levels are taxed at higher rates.
Progressive
Describes a tax system where the tax rate increases as the taxable base amount increases, typically aimed at reducing income inequality.
Proportional
Having a constant relation in degree or number between two or more variables.
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