When a taxpayer's income increases $1,000 and the taxes owed increases from $7,867 to $8,177, the marginal tax rate is ______ percent.

15 20 25 28 31

A person has $1,250 in liabilities, monthly savings of $200, and monthly gross income of $2,500. What is the person's savi ngs ratio?

0.52 0.08 2.35 0.16 12.58

Which one of the following should be budgeted first?

variable expenses vacation expenses fixed expenses unplanned living expenses recreation expenses

The stages that an individual goes through based on age, financial needs, and family situation is c alled the:

financial planning process. budgeting procedure. personal economic cycle. adult life cycle. tax planning process.

Allen Arnold has determined that the amount of money he spends on his mortgage payment, car insurance payment, and cable bill totals $1,200 each month. What type of expenses has Allen determined with this ca lculation?

current liabilities long Term liabilities net worth variable expenses fixed expenses