Chapter 1 - PointsPossible PointsEarned PointsMissed...

Info iconThis preview shows pages 1–2. Sign up to view the full content.

View Full Document Right Arrow Icon
 Points Possible  10  Points Earned  9  Points Missed  1  Points Ungraded  0  Score  90.0% 1. (T/F)  A tax is said to be vertically equitable if taxpayers in different situ Response: TRUE Answer: TRUE  Points: 1 / 1 2. (T/F)  If T is in the 28 percent tax rate bracket, then all of T’s income is Response: FALSE Answer: FALSE  Points: 1 / 1 Comment: To say that someone is in the 28 percent tax bracket mean 3. (T/F)  For a taxpayer whose marginal tax rate is 40%, a credit of $30 is Response: FALSE Answer: FALSE  Points: 1 / 1 Comment: A deduction of $80 for someone who is in the 40% bracket  4. (T/F)  Marginal tax rates are normally lower than average tax rates. Response: FALSE Answer: FALSE  Points: 1 / 1 Comment: The marginal rate is the rate that applies to the next unit of  5. T has a tax base of $30,000 and pays a tax of $2,500 on the first $25,
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
Image of page 2
This is the end of the preview. Sign up to access the rest of the document.

This note was uploaded on 03/21/2010 for the course ACCOUNTING 533 taught by Professor Eric during the Spring '09 term at Universidade do Minho.

Page1 / 3

Chapter 1 - PointsPossible PointsEarned PointsMissed...

This preview shows document pages 1 - 2. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online