1. The average tax rate is The average tax rate is the tax rate that is paid on

Question

1. The average tax rate is

  

The average tax rate is the tax rate that is paid on the last dollar of income earned always higher than the marginal tax rate calculated by dividing the total taxes paid by the taxable income none of the above A firm's net income may be greater than its net cash flows because the firm sold merchandise on credit did not pay dividends deferred income taxes deducted depreciation expense Which of the following balance sheet items generally takes the longest time to convert to cash? marketable securities accounts payable inventory accounts receivable

Explanation / Answer

Hi,

Please find the answers as follows:

1) Option C (calculated by dividing the total taxes paid by the taxable income) is the correct answer.

2) Option A (sold merchandise on credit) is the correct answer.

3) Option C (Inventory) is the correct answer.

Thanks.

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