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• A．Flat Tax
  Income tax is a direct tax which is levied on the income of private individuals．There are various income tax systems that exist．ranging frOm a flat tax to an extensive progressive tax systern．
  A flat tax，also cal led a proportional tax，is a system that taxes．Usual ly the flat tax is proposed to k ick in at a certain income level，or to exempt income below that level，so that the lowest-income members of society don’t need to pay income tax．
  Proposed flat taxes usually allow little or no exemption of earned income besides the bottom-level exemption．
  Advocates of a flat tax claim that it will end unfair discrimination．They also argue that flat taxes are easier(and cheaper)to administer and comply with than complex，graduated taxes．Most political parties that advocate the introduction of a flat tax are on the right of the pol itical spectrum．
• B．Progressive Tax
  A progressive tax，or graduated tax，is a tax that is larger as a percentage o
  

[填空题]

• A．Flat Tax
  Income tax is a direct tax which is levied on the income of private individuals．There are various income tax systems that exist．ranging frOm a flat tax to an extensive progressive tax systern．
  A flat tax，also cal led a proportional tax，is a system that taxes．Usual ly the flat tax is proposed to k ick in at a certain income level，or to exempt income below that level，so that the lowest-income members of society don’t need to pay income tax．
  Proposed flat taxes usually allow little or no exemption of earned income besides the bottom-level exemption．
  Advocates of a flat tax claim that it will end unfair discrimination．They also argue that flat taxes are easier(and cheaper)to administer and comply with than complex，graduated taxes．Most political parties that advocate the introduction of a flat tax are on the right of the pol itical spectrum．
• B．Progressive Tax
  A progressive tax，or graduated tax，is a tax that is larger as a percentage o
  

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The normal income statement which constitutes one of the financial statements of company, is financial income statement. So functional income statement is an income statement that segregates all costs by use; it shows revenues less cost of goods sold ( gross margin) less selling and administrative expenses. This approach is useful for financial reporting purpose; it provides outside readers with information about company’s progress and about which functional areas are being emphasized. For management’s use in the decision-making process, however, an income statement that follows a cost behavior approach, often referred to as a Contribution Margin Income Statement, is more valuable.

When the management of a business makes some decisions, it often refers to the normal income statement because the normal income statement is more useful.（）
A. Right
B. Wrong
C. Doesn’t say

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Business corporations, like individuals, must pay taxes on their income In 1966 the corporation income tax provided 23 percent of all government receipts. By 1983 the figure had dropped to 6.2 percent, but by 1987 it climbed to 10.2 percent.
The corporation income tax is often criticized as double taxation(税收). Not only must the company pay taxes on its profits, but individual shareholders(股东) must also pay personal income taxes on dividend(红利) income. The small stockholder has been given some relief by the provision allowing taxpayers to deduct(扣除) the fist $100 they receive in dividends from their personal income. In addition, money that is gained from the increase in the value of stock sold at least six months after its purchase considered a capital gain. The law allows the seller of such stock to pay a lower tax tate on the capital gain. However, gains from stock owned for less than six months are taxed at
A. personal income taxes by shareholders and dividends paid by the company
B. personal income taxes paid by the company on dividends and on its profits
C. taxes paid on the profits of the company and those on personal income
D. taxes paid on dividends by shareholders and those paid by the company on its profits

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