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What are the five basic components of accounting information systems
Average Tax Rate
The ratio of the total amount of taxes paid to the total taxable income, showing the percentage of income that goes to taxes.
Taxable Income
The portion of an individual's or a corporation's income that is subject to taxes by governmental authorities.
Average Tax Rate
A calculation of the proportion of total income that an individual or business pays in taxes, showcasing the fraction of gross income spent on taxes.
Taxable Income
Taxable income is the portion of an individual's or a company's income used to determine how much tax they owe to the government in a given tax year.
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