________ Refers to How Costly It Is for a Firm

question 40

Multiple Choice

________ refers to how costly it is for a firm to alter its strategic and organizational decisions.

• A) Flexibility
• B) Dynamic capability
• C) Opportunism
• D) Uncertainty

---

Definitions:

Income Tax Liability

The total amount of income tax that an individual or business owes to the government based on their taxable income.

Income

The amount of money or its equivalent received during a period of time in exchange for labor or services, from the sale of goods or property, or as a profit from financial investments.

Marginal Tax Rate

The rate of tax applied to your income for each additional dollar of income, representing the percentage of tax applied to your last dollar of income.

Federal Income Tax

The tax levied by the U.S. government on the annual earnings of individuals, corporations, trusts, and other legal entities.