Which of the following would most likely be considered an example of benefit taxation?
Excise tax
Corporate income tax
Property tax
Highway-user tax
Correct answer is D
No explanation has been provided for this answer.
Which of the following is a direct tax?
Sales tax
Purchase tax
Export duties
Property tax
Correct answer is D
A direct tax is a tax that a person or organization pays directly to the entity that imposed it. Examples include income tax, real property tax, personal property tax, and taxes on assets, all of which are paid by an individual taxpayer directly to the government.
Merchants banks perform all the following functions EXCEPT
Raising of capital for industry
Provision of current account facilities
Management of investment portfolios
Provision of credit for overseas trade
Correct answer is B
No explanation has been provided for this answer.
The rate at which money changes hands is known as the
Rate of inflation
Velocity of transactions
Velocity of money
Velocity of circulation
Correct answer is D
No explanation has been provided for this answer.
In any economy, what is used as money is determined by?
Government acceptance commodity standard
Government acceptance of an inconvertible paper standard
Laws and customs
Its use as a store of value
Correct answer is A
No explanation has been provided for this answer.