Some Economists Argue for a ________ Tax Instead of the Personal

question 12

Multiple Choice

Some economists argue for a ________ tax instead of the personal income tax because it would encourage more saving.

• A)consumption
• B)capital gains
• C)corporate income
• D)property

---

Definitions:

Process Costing

An accounting methodology used for homogeneous products, allocating costs over the entire production process rather than per individual item.

Equivalent Unit

A concept used in process costing that converts partially completed units into a number of equivalent fully completed units.

Conversion

Conversion involves the process of transforming raw materials or inputs into finished products or outcomes in manufacturing and production contexts.

Weighted-Average Inventory Method

An inventory costing method that assigns a cost to inventory and cost of goods sold based on the average cost of all similar items in inventory.