Sales Tax Is Considered _____ Because It Amounts to a Larger

question 29

Multiple Choice

Sales tax is considered _____ because it amounts to a larger proportion of a poor person's assets than a rich person's.

• A) progressive
• B) regressive
• C) retrogressive
• D) passive aggressive

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Definitions:

Working Capital

The difference between a company's current assets and current liabilities, indicating the liquidity available to the business for day-to-day operations.

Current Assets

Assets expected to be converted into cash, sold, or consumed within one year or within the normal operating cycle of the business, whichever is longer.

Current Ratio

A financial metric assessing a firm's capacity to cover its short-term debts using assets due within the same period.

Current Assets

Assets that are expected to be converted into cash, sold, or consumed within one year or within the normal operating cycle of the business.