Directions: Provide the one best answer for each of the following multiple choic

Question

Directions: Provide the one best answer for each of the following multiple choice questions. Use a #2 pencil and the scantron sheet provided. Academic dishonesty of any kind results in an F for the course. No electronic devices of any type allowed. 1. The primary source of revenue for local governments is: a. Individual income taxes b. Social insurance C. Sales taxes d. Property taxes e. Excise taxes 2. Statement I: The corporate income tax represents double taxation because profits taxed initially and then once again when sales tax is applied. Statement ll: Published tax rates bear little relationship to the effective tax rate. a. Both statement I and statement Il are true b. Both statement I and statement Il are false c. Statement I is true and statement II is false d. Statement I is false and statement ll is true 3. In addition to income taxes, income is taxed via payroll taxes for: a. Welfare payments b. Social insurance c. Obama care d. All of the above e. None of the above

Explanation / Answer

1. d. Property tax contributes around 30% of the total revenue

2.c. Corporate tax are double taxed and there is relatonship between effective and published tax rate

3.b. Social insurance is imposed tax on employee and employers

Related Questions

Navigate

• Browse (All)
• Browse D
• Subjects

---

---

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.