Match Each Term with the Correct Statement Below

question 95

Multiple Choice

Match each term with the correct statement below.
-The result when two similarly situated taxpayers are taxed the same.

• A)Average tax rate
• B)Effective tax rate
• C)Horizontal equity
• D)Marginal tax rate
• E)Progressive rate structure
• F)Proportional rate structure
• G)Regressive rate structure
• H)Tax avoidance
• I)Tax evasion
• J)Vertical equity

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Definitions:

Controllable Variance

A measure in accounting that represents the difference between actual costs and the budgeted amounts that management could control or influence.

Indirect Factory Wages

Wages paid to employees who are not directly involved in production but whose services are necessary for the manufacturing process.

Budgeted Amounts

Financial projections or estimates of revenue and expenses over a specified period, used for planning and control purposes.

Direct Labor Time Variance

The difference between the actual time taken to produce a good or service and the estimated time.