taxes, finaces, & mgmt practices
Quiz yourself by thinking what should be in
each of the black spaces below before clicking
on it to display the answer.
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| What tax rate increases as the tax base increases | Progressive tax
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| Explain what happens to personal income with a progressive tax | As your income increases, the percentage of taxes paid also increase.
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| Give an example of a progressive tax | Income tax. Higher income, higher percentage of tax
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| What is another name for a progressive tax | graduated tax
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| What is a regressive tax | A tax whose percentage
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| What is a regressive tax | A tax which takes a higher percentage of your income, the lower a person's income is.
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| What is an example of a regressive tax | Sales tax
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| Why is a fixed tax, regressive | Because it consumes a higher percentage of income the less a person makes.
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| What is a proportional tax | A tax which bases the fee proportional to the amount of income you make. The rate does not increase as income goes higher.
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| What is another name for aproportional tax? | Flat tax.
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| What is a pro forma | A financial projection that includes an income statement for a real estate project that shows how the project is expected to do in the future
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| What is included in a pro forma | Capital cost, operating revenue and expenses, and ROI for one or more years
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| What is a financial feasibility analysis | A study undertaken by a government to determine if a project can be constructed & managed accoding to a budgetary considerations
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| What is involved in a financial feasibility analysis | Facility Construction and Operating Expenses including: basic expensenses, debt service, and replacement costs. v Facility Revenue sources including rental fees, ticket sales, and/or other forms of participant contributions
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| What is a capital improvements program | It is a fiscal plan that highlights how major infrastructure & program projects will be completed according to a cost schedule
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| What information is inclued in a cip? | major infrastructure/program arranged by priority with costs and expected implementation time frames
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| What is a capital budget? | A plan to finance long-term outlays, such as for fixed assets like facilities and equipment.
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| What is the difference between capital budget & capital improvements program? | A capital improvements plan is a multi-year for all capital expenditures for infrastucture/facilities. A capital budget is limited to year/ specific project.
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| What is the gross export product | total amount of goods exported from a county,state, or region
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| What is the gross national product | is the total value of final goods and services produced in a year by a country's nationals (including profits from capital held abroad).
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| What is the gross domestic product | Is the total value of final goods and services produced within a country's borders in a year.
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| What is the diference between GNP & GDP | GNP counts income based on the nationality of the capital (German cars in america are counted toward Germany's GNP) GDP counts income according to where it is earned rather than who owns the factors of production (German cars in America are count to US).
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Created by:
kathie_we