Match Each Term with the Correct Statement Below

question 48

Multiple Choice

Match each term with the correct statement below.
-The result when two differently situated taxpayers are taxed differently but fairly.

• 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:

Levy

The act of legally seizing property to satisfy a debt or fulfill a judgment, often conducted by a governmental authority.

Tenant in Common

A tenant in common is an individual who co-owns property with one or more persons, where each owner possesses an undivided interest and no right of survivorship exists among the owners.

Tenancy by the Entirety

A form of joint property ownership available only to married couples where both own the entire property equally and rights of survivorship apply.

Rents and Profits

The income achieved from leasing real estate or other properties, and the gains derived from their operation.