If the Tax Rate Increases with Increase in Income,the Income

question 76

Multiple Choice

If the tax rate increases with increase in income,the income tax structure is said to be _____.

• A)proportional
• B)regressive
• C)progressive
• D)leptokurtic
• E)negatively skewed

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Definitions:

Operating Agreement

A contract outlining the operating rules of a limited liability company (LLC), including the financial and working relations among business owners (members).

Profit Division

The method or formula by which profits are distributed among stakeholders, partners, or investors in a business.

LLC Statutes

Laws and regulations governing the formation, operation, and dissolution of Limited Liability Companies.

Taxes Imposed

Charges levied by the government on individuals or entities, such as income tax, sales tax, and property tax, compulsory for funding public services.