9 Questions
The proportional contribution by persons and property levied by the lawmaking body of the state by virtueof its sovereignty for the support of the government and all public needs is referred to as:
Tax
One of the characteristics of tax is that it is generally: (
Payable in money
All of the following, except one, is an essential characteristic of a tax. exception?
It is based on ability to pay
Which of the following is not an example of a direct tax?
Business tax
A kind of tax system where rate increases as the tax base increases.
Progressive tax
The distinction of tax from permit or license is that a tax is:
One in which there is generally no limit on the amount that may be imposed
Which of the following is designed to regulate conduct?
Penalty
Which of the following is generally based on contract?
Penalty
All of the following, except one, are characteristics of a toll
Levied for the support of the government
Test your knowledge about the process by which the sovereign raises income to defray the expenses of the government.
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