The Value Chain Is Used by

question 25

Multiple Choice

The value chain is used by

• A)service, manufacturing, and merchandising businesses.
• B)only service and manufacturing businesses.
• C)only service and merchandising businesses.
• D)only manufacturing and merchandising businesses.

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Definitions:

Marginal Tax Rate

The rate at which the last dollar of a taxpayer's income is taxed, indicating the percentage of tax applied to their highest dollar of income.

Average Tax Rate

The proportion of total income that a taxpayer pays in taxes, calculated by dividing the total taxes paid by the total taxable income.

Taxable Income

The amount of income that is used to calculate how much tax an individual or a company owes to the government.

GAAP

Generally Accepted Accounting Principles, a common set of accounting rules and standards used in financial reporting.