The Best Technical Description of a Progressive Tax Is A

question 49

Multiple Choice

The best technical description of a progressive tax is a:

• A)tax which takes more money from the rich than from the poor.
• B)tax likely to discourage incentive.
• C)more equitable tax than a regressive one.
• D)tax which takes a higher proportion of extra dollars received as income rises.
• E)tax which falls directly on those in the high income brackets.

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Definitions:

Personnel Costs

The expenses directly related to the hiring, training, and payment of employees.

Information Technology

The employment of computers, telecommunications, and various instruments for storing, accessing, sending, and altering information.

Process Costing

A costing method used for homogenous products, where costs are assigned to mass-produced items in continuous processes.

Equivalent Units

Equivalent units are a concept in cost accounting used to allocate costs to partially completed goods, adjusting for the stage of completion.