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Which of the following is an internal control procedure?
Total Tax
The sum of all the taxes levied by different levels of government on an individual or business.
Marginal Tax Rate
The rate at which the last dollar of income is taxed, indicating the impact of an additional dollar of income on the amount of taxes owed.
Taxable Income
The amount of income that is subject to taxes, after all deductions and exemptions have been factored in.
After-Tax Income
The amount of income left after all taxes have been deducted.
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