Which of the following is NOT a feature of individual taxation?

Group of answer choices

Individuals pay taxes on wages and salaries, on investment income, and on the profits of proprietorships and partnerships.

Individuals face progressive tax rates.

Long-term capital gains are taxed at a lower rate than ordinary income.

Short-term capital gains are taxed at the same rate as ordinary income.

Interest on both corporate and municipal bonds is subject to Federal taxation.

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Question 82 pts

Which of the following statements is NOT correct?

Group of answer choices

Free cash flow is the amount of cash available from operations for distribution to shareholders only after making all investments necessary to support operations.

Net operating profit after taxes, or NOPAT, is the amount of profit a company would generate if it had no debt and held no financial assets.

Operating current assets are the current assets normally used in a companys operating activities.

Cash, inventory, and account receivables are classified as operating current assets.

Operating current liabilities are the current liabilities resulting as a normal part of operations.