Select the Best Word or Phrase for the Blank in the Following

question 97

Multiple Choice

Select the best word or phrase for the blank in the following sentence.
The Mountaineers Association ______ here last year.

• A)are gathering
• B)gather
• C)will gather
• D)gathered

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Definitions:

Progressive

A taxation system in which the tax rate increases as the taxable amount increases, often applied to income tax.

Regressive

In taxation, regressive describes a tax that takes a smaller percentage of income as the income increases, often placing more burden on lower-income individuals.

Average Tax Rate

The average tax rate is the percentage of total income paid in taxes, calculated by dividing the total amount of taxes paid by the total income before taxes.

Taxable Income

The portion of an individual's or corporation's income that is subject to income tax after allowances, exemptions, and deductions.