Table 12-16 -Refer to Table 12-16. the Tax System Is

question 39

Multiple Choice

Table 12-16
-Refer to Table 12-16. The tax system is

• A)proportional.
• B)regressive.
• C)progressive.
• D)lump sum.

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Definitions:

Set-up Fees

Initial charges required to establish a service, account, or agreement before regular use or service can commence.

Commission Merchant

A person who performs services of buying and/or selling for a commission.

Delivery Charges

Fees applied for transporting items from the seller or warehouse to the buyer's location; synonymous with freight charge but rephrased.

Net Proceeds

The amount received by the seller after all costs and expenses have been deducted from the gross proceeds of a sale.