Which One of the Following Terms Is Defined as the Total

question 31

Multiple Choice

Which one of the following terms is defined as the total tax paid divided by the total taxable income?

• A)average tax rate
• B)variable tax rate
• C)marginal tax rate
• D)absolute tax rate
• E)contingent tax rate

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Definitions:

Total Float

The total amount of time that a project task can be delayed without causing a delay to the project's completion date.

Cheque Clear

The process by which a cheque's funds move from the issuer's account to the recipient's account, and the cheque is deemed successfully processed.

Banking System

A network of financial institutions, including banks, that provide financial services to the public and businesses.

Availability Float

The time difference between when a deposit is made in a bank account and when the amount becomes available for use.