The Figure Given Below Shows the Lorenz Curves of Two

question 54

Multiple Choice

The figure given below shows the Lorenz curves of two countries (Country A and Country B) .Figure 19.2
Total income (cumulative percentage)
Total population (cumuative percentage)

-Which of the following tax structures helps in reducing income inequality?

• A)Proportional tax structure
• B)Regressive tax structure
• C)Indirect tax structure
• D)Progressive tax structure
• E)A combination of proportional and regressive tax structure.

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Definitions:

Petty Cash Fund

A nominal sum of cash reserved for quick payments of assorted trivial expenses.

Replenishing

Refers to the process of adding stock or supplies to bring quantities back up to predetermined levels.

Debit To Cash

An accounting entry that increases the cash balance in a company's books, reflecting an influx of money.

Mail Receipts

Documentation or evidence of receiving goods or correspondence through the postal service.