PROGRESSIVE TAX Definition

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PROGRESSIVE TAX is an income tax system to where the more income that is made the higher the tax percentage that must be paid.

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PAYOUT RATIO is dividends paid divided by company earnings over some period of time, expressed as a percentage.

ASSURANCE has been defined by the American Institute of Certified Public Accountants (AICPA) as "Independent Professional Services that improve information quality or its context". Such services are very broad and could include assessments of various industries, e.g., Internet security or quality of health facilities.

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