Which of the following statements about a progressive tax rate structure is false?
A. The federal income tax has always used a progressive rate structure.
B. Progressive rates result in greater vertical equity than a proportionate rate.
C. Progressive rates reflect the theory of the declining marginal utility of income.
D. Progressive rates increase as the tax base increases.
Answer: B
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________ are offered by a manufacturer to trade-channel members if they will perform certain functions, such as selling, storing, and record keeping
A) Consumer promotions B) Quantity discounts C) Functional discounts D) Seasonal discounts E) Trade-in allowances
Identify three ways that companies can collect secondary data
What will be an ideal response?
Keenan sells items to tourist gift shops in Florida. One prospect he called on said, "I think the key chains last year were prettier. I think I'll pass on ordering anything from you this year." Since key chains only make up a small portion of the inventory Keenan sells, he responded with questions such as, "What would it take to change your mind?" and "What caused you to decide not to place an order with me?" What kind of an objection was Keenan dealing with?
What will be an ideal response?
What criterion or criteria must sales transactions meet in order for the seller to recognize revenues before collecting cash?
a. The revenues must be earned (the firm must have achieved substantial performance). b. The amount to be received must qualify as an asset (there must be a future economic benefit and the amount must be measured with sufficient reliability). c. The firm must have a reasonable expectation that it will collect the amount owed from the customer. d. All of the above. e. None of the above.