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  1. Home
  2. IIA Certification
  3. IIA-CIA-Part3 Exam
  4. IIA.IIA-CIA-Part3.v2025-01-02.q249 Dumps
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Question 66

An individual had taxable income of US $23,r_ir_ir' per year and paid US $8,000 in income tax. The individual's taxable income then increased to US $30,000 per year resulting in a US $10,000 income tax liability. The personal tax system being applied to this individual is:

Correct Answer: B
The average t rate of the individual has decreased from 34.8% US $8,000 - $23,000) to 33.3% (US $10.000 Under a regressive tax system, the average tax rate falls as income rises, although the amount of tax paid may rise.
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Question 67

Truth-in-lending laws most likely are intended to:

Correct Answer: D
Truth-in-lending laws are disclosure statutes. They typically apply to creditors that extend consumer credit to individual debtors. Examples of disclosures for a closed-end credit transaction, e.g., the typical car loan, include the total finance charge. Annual percentage interest rate, amount financed, late charges, security interest held by the creditor, the number and amounts of payments, due dates, and the total amount of payments.
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Question 68

Which of the following attributes of data is the most significantly impacted by the internet of things?

Correct Answer: D
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Question 69

Which of the following financial instruments should be recorded at fair market value on the financial statements?

Correct Answer: D
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Question 70

Which of the following is a likely result of outsourcing?

Correct Answer: D
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