Taxation for Decision Makers Chapters 1-2 | COMPLETE QUESTIONS AND ANSWERS | 100% RATED CORRECT | LATEST UPDATED

Taxation for Decision Makers Chapters 1-2 | COMPLETE QUESTIONS AND

ANSWERS | 100% RATED CORRECT | 2024-2025 LATEST UPDATED

Ad Valorem - (answers)A tax based on the value of an item or property.



Average Tax Rate - (answers)Total tax paid divided by total income.



Canons of Taxation - (answers)Principles of taxation including equity, certainty, convenience,
and economy.



Estate Tax - (answers)Tax on the transfer of property upon the owner's death.


C Corporation - (answers)A legal entity that is separate from its owners and taxed independently.



Fiduciary - (answers)A person or organization你是想要一篇“眼睛容易阅读
that acts on behalf of another in a position of trust.
的”中文文章

Filing Status - (answers)A taxpayer's classification for income tax purposes, such as single,
married filing jointly, etc.



Franchise Tax - (answers)A tax levied on businesses for the privilege of operating as a
corporation or LLC.



Gift Tax - (answers)Tax on the transfer of property by one individual to another while receiving
nothing, or less than full value, in return.



Horizontal equity - (answers)The idea that individuals in similar financial situations should be
taxed at the same rate.