In Most Societies Access to Wealth and Social Privileges Is

question 2

True/False

In most societies access to wealth and social privileges is determined mainly by a person's social and class status.

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Definitions:

Retained Earnings

Retained earnings are the portion of a company's profits that are kept or retained within the company rather than paid out to shareholders as dividends, often used for reinvestment in the business or to pay down debt.

Marginal Tax Rate

The rate of tax applied to your next dollar of income, used in progressive tax systems where tax rates increase as income rises.

Percentage Of Sales Approach

Financial planning method in which accounts are projected depending on a firm’s predicted sales level.

Net Income

The final profit figure for a company after deducting taxes and expenses from the revenue.