MC-Class-Bases&Rates

MC-Class-Bases&Rates - MULTIPLE CHOICE BASES AND...

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MULTIPLE CHOICE BASES AND RATES 1. Which Royal Commission expressed support for increased use of consumption taxes in Canada? (a) the Macdonald Commission (b) the Lambert Commission (c) the Mintz Commission (d) the Carter Commission (e) none of the above 2. The sacrifice theory is a theory which is used to justify: (a) the income tax (b) regressive tax rates (c) a wealth tax (d) progressive tax rates (e) none of the above 3. If we assume a tax rate of 10 per cent on taxable income of $20,000, and determine that the rate on taxable income of $30,000 is 15 per cent, the marginal tax rate is: (a) 10 per cent (b) 15 per cent (c) 20 per cent (d) 25 per cent (e) none of the above 4. In a regressive tax rate system: (a) the tax rate on higher levels of income is more than on lower levels (b) tax is levied at a constant percentage across all income levels (c) the tax rate on higher levels of income is less than on lower levels (d) each individual taxpayer pays exactly the same amount of tax (e) none of the above
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5. Bracket creep is: (a) the additional tax paid due to inflation-driven increases in nominal income (b) defined as any increase in inflation over 8 per cent (c) the additional tax paid due to inflation-driven decreases in nominal income (d) of no consequence to individual taxpayers
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This note was uploaded on 01/07/2012 for the course ACCT 4453 taught by Professor Gorman during the Spring '11 term at Dalhousie.

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MC-Class-Bases&Rates - MULTIPLE CHOICE BASES AND...

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