Which Statement Is True

question 217

Multiple Choice

Which statement is true?

• A)The federal,state,and local governments collect a combined total of over 40 percent of our GDP in the form of taxes.
• B)A rich person has a much lower marginal tax rate on their personal income taxes today than she did in 1980.
• C)The federal government spends more on foreign aid than it does on Medicare.
• D)Most Americans pay more in federal personal income tax than they do in payroll tax.

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Definitions:

Days Receivable Outstanding

Days Receivable Outstanding (DRO) is a financial metric that calculates the average number of days it takes a company to collect payment after a sale has been made.

Accounts Receivable

Funds that customers owe a company for products or services that have been provided but remain unpaid.

Sales

The total amount of goods or services sold or provided to customers, generating revenue for a business.

Long-Term Debt To Assets

A ratio indicating the proportion of a company's assets that are financed through long-term debt, showing financial leverage.