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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ACCOUNTING TIMING DIFFERENCE is the effect that a defered accounting event would have on the financials if taken into consideration e.g., the release of a deferred tax asset to the income statement as a deferred tax expense (ie the reversal of an accounting timing difference).

ABC see ACTIVITY BASED COSTING.

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