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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CASH CYCLE is the length of time, normally stated in numbers of days, between the purchase of raw materials and the collection of accounts receivable generated in the sale of the final product.

ALLOCATE is to distribute according to a plan or set apart for a special purpose. Examples: a. spread a cost over two or more accounting periods; b. charge a cost or revenue to a number of departments, products, processes or activities on a rational basis.

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