Answer the following statements true (T) or false (F)
1. A proportional tax rate is one where the rate of the tax is the same for all taxpayers, regardless of income levels.
2. Regressive tax rates decrease as the tax base increases.
3. The marginal tax rate is useful in tax planning because it measures the tax effect of a proposed transaction.
4. A taxpayer's average tax rate is the tax rate applied to an incremental amount of taxable income that is added to the tax base.
5. If a taxpayer's total tax liability is $30,000, taxable income is $100,000, and economic income is $120,000, the average tax rate is 30 percent.
1. TRUE
A proportional tax is essentially a flat tax.
2. TRUE
Regressive rates increase as the base decreases.
3. TRUE
The marginal rate applies to the planned addition to income or reduction to income.
4. FALSE
The marginal tax rate is the tax rate applied to an incremental amount of taxable income.
5. TRUE
The average rate equals the tax liability divided by the taxable income.
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Answer the following statements true (T) or false (F)
1. The value of the guest experience equals the quality of the experience divided by the financial costs of the experience. 2. Providing a high-quality experience often costs the organization less than providing a low-quality experience. 3. When guests are wrong, find a way to let them be wrong with dignity. 4. An excellent way to provide a “wow” experience for guests is to give them more than they say they want.
Transformational leadership is fundamentally morally uplifting. This suggests that ______.
A. use of coercive leadership cannot be considered leadership B. all transformative leadership has a negative side C. using contingent reward cannot be considered leadership D. using management by exception cannot be considered leadership
To certify a check, the bank must:
a. tell the one who presents it. b. send a letter to the drawer. c. write the acceptance on the check. d. Any of these will be sufficient.
Barry collects antique watches and decided to sell a few of them on eBay. Some of the watches he wants to sell are rare and very valuable. What condition is necessary for an exchange to occur between Barry and a buyer?
A. His watch should have a certificate of authenticity. B. The opening bid must be lower than other watches being sold on the site. C. Buyers must provide payment before the item is shipped. D. Delivery must take place within 2 days of the purchase. E. Potential buyers must be able to see the watch and understand its qualities.