Which, If Any, of the Following Taxes Are Proportional (Rather

question 117

Multiple Choice

Which, if any, of the following taxes are proportional (rather than progressive) ?

• A)State general sales tax
• B)Federal corporate income tax
• C)Federal estate tax
• D)Federal gift tax
• E)All of these

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Definitions:

Overdue Accounts

Financial accounts or receivables that have not been paid by the due date.

Receivables

Amounts owed to a company by its customers for goods or services provided on credit.

Net Float

The difference between checks written against a bank account and those that have been deposited but not yet cleared, affecting the balance.

Chequing Account

A bank account allowing the account holder to withdraw funds, write checks, and use electronic debit to access funds.