CIMA F1 Question Answer
Which of the following is an example of a progressive tax?
Personal income tax of 10% on earnings up to $10,000, then at 15% over $10,001
Corporate income tax of 20% on earnings up to $100,000, then at 10% over $100,000
Corporate income tax of 20% on all earnings
Personal income tax of 10% and corporate income tax of 20%
TESTED 01 Jan 2026
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