A Normative Statement Deals With

question 194

Multiple Choice

A normative statement deals with:

• A)the facts.
• B)what was,is,or will be.
• C)what ought to be.
• D)the scientific method.

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Definitions:

Taxable Income

The amount of income used to calculate how much tax an individual or a company owes to the government in a given tax year.

Progressive Tax

A tax system in which the tax rate increases as the taxable amount increases, typically imposing higher rates on those with higher incomes.

Tax Rates

The percentage at which an individual or corporation is taxed, which can vary according to income level, type of taxpayer, and jurisdiction.

Federal Marginal Income Tax

pertains to the portion of tax applied to an individual's or entity's last dollar of income, under the federal tax system, which uses progressively higher rates for higher income levels.