Calculated Fields in Reports Use the Information in External Files

question 20

True/False

Calculated fields in reports use the information in external files exclusively.

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Definitions:

Marginal Ordinary Income Tax Rate

The percentage of tax applied to your income for each tax bracket in which you qualify, increasing progressively as your income surpasses threshold amounts.

Qualified Dividends

Dividend payments received on shares of a corporation, taxed at a lower tax rate than regular income.

Tax Rate

The percentage at which an individual or corporation is taxed.

Constructive Receipt

The tax principle that income is taxed when it is actually or constructively received, not necessarily when it is earned.