The Second Largest Source of Tax Revenue for the Federal

question 146

Multiple Choice

The second largest source of tax revenue for the federal government is

• A)payroll taxes
• B)the personal income tax
• C)the corporate income tax
• D)excise taxes
• E)the sales tax

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Definitions:

Contribution Margin Ratio

A financial metric calculating the difference between a product's price and variable costs as a percentage of the product's price.

Variable Costs

Costs that vary directly with the level of production or sales volume such as materials and labor.

Type Of Cost

Classification of cost based on nature, function, or behavior in relation to the production or delivery of goods and services.

Type Of Cost

A category within accounting that relates to the nature of expenses incurred, such as fixed, variable, direct, or indirect costs.