A $10 Fee to Obtain a Driver's License Is a

question 109

Multiple Choice

A $10 fee to obtain a driver's license is a

• A)regressive tax.
• B)degressive tax.
• C)proportional tax.
• D)progressive tax.

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Definitions:

Equivalent Units

A concept in cost accounting used to denote the amount of work done on incomplete units, expressed in terms of fully completed units.

Physical Units

A measure of production output or inventory in terms of the actual number of units, as opposed to the cost or value of the units.

Percentage of Completion

A method of accounting for long-term contracts in which income is recognized as a proportion of work completed at certain stages.

Equivalent Units

A concept in cost accounting used to allocate costs to partially completed goods, converting them into the amount of finished goods units they represent.