Examlex
-In the accompanying figure, the arrow labeled 3 is pointing to ____.
Equity Principle
A concept in finance that emphasizes fair distribution of wealth and assets, ensuring that financial transactions are conducted fairly and equitably.
Taxes
Mandatory financial charges or levies imposed by a government on individuals or businesses to fund public expenditure.
Proportional Tax
A tax system where the tax rate remains constant regardless of the amount subject to taxation, meaning all taxpayers pay the same percentage of their income.
Regressive Tax
A tax applied uniformly, taking a larger percentage of income from low-income earners compared to high-income earners.
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