Since 1913

question 4

Multiple Choice

Since 1913

• A) corporations have been the primary source of federal taxes.
• B) federal tax law has been simplified and compliance made easier.
• C) states account for most income tax revenues.
• D) personal exemptions for most taxpayers have been significantly reduced.

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Definitions:

Gross Collection Ratio Formula

A financial metric used to assess the efficiency of a company's collections department, calculated by dividing total collections by the total amount of billable charges.

Total Charges

The complete amount of money required for a particular service, product, or procedure, including all associated costs and fees.

PDF

Portable Document Format, a file format developed by Adobe Systems used to present documents independent of software, hardware, or operating system.

Mailing Invoices

The process of sending bills for goods or services provided to a client or customer through the postal service.