The Table Below Shows Taxes Paid for Various Incomes

question 100

Multiple Choice

The table below shows taxes paid for various incomes.According to the information in the table below,the tax system is: ​
Table3.3​
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• A)progressive through all levels of income.
• B)proportional throughout all levels of income.
• C)regressive throughout all levels of income.
• D)based on the benefits-received principle.
• E)proportional only between income levels $1,000 and $3,000.

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Definitions:

Operating Cycle

The total time it takes for a company to purchase inventory, sell the products, and collect the cash from the sales.

Cash Cycle

The period it takes for a company to convert its investments in inventory and other resources into cash flows from sales.

Inventory

The total amount of goods and materials held by a company intended for sale or production.

Total Inventory Cost

Total inventory cost includes all costs associated with holding and managing inventory, such as purchasing, storing, and handling costs.