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Income Taxation Unit 3: General Principles of Taxation

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Income Taxation Unit 3: General Principles of Taxation

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Questions and Answers

What is the main focus of the course on Income Taxation?

Individual income tax computation only

Business taxes only

Tax laws and tax administration (correct)

Theories of finance

What will be given in advance via Facebook Group for this course?

Course materials (correct)

Term exam questions

Assignment solutions

Seatwork details

What is the consequence for not following instructions for assessments in this course?

Additional time for completion

Deductions will be imposed (correct)

Extra credit

No consequences

What is the emphasis of this course's content?

Technical and procedural aspects Signup and view all the answers

According to the course orientation, when should students read the contents of the module?

Before taking any assessments Signup and view all the answers

What are the desired learning outcomes of the course?

Differentiating inherent powers of the sovereign state Signup and view all the answers

What is the purpose of the inherent power of taxation?

To raise revenue for the government Signup and view all the answers

What is eminent domain?

The power to take private property for a public purpose Signup and view all the answers

What does police power primarily aim to do?

Guard against abuses of individual liberty Signup and view all the answers

What is the nature of police power, as described in the text?

Primarily exercised to guard against excesses of abuses of individual liberty Signup and view all the answers

What is the primary purpose of eminent domain?

To take private property for a public purpose Signup and view all the answers

How can police power be exercised through taxation, as per the text?

By promoting public welfare through taxes Signup and view all the answers

What is the foundational idea behind eminent domain?

Community interests are more important than individual rights in property Signup and view all the answers

What is meant by 'taxation' as described in the text?

'Taxation' refers to raising and accumulating revenue from inhabitants to pay necessary government expenses Signup and view all the answers

What is 'just compensation' in the context of eminent domain?

'Just' means paying the owner the full monetary equivalent of the property taken for public use Signup and view all the answers

Inherent powers of a sovereign state include:

The power to legislate for the protection of health, welfare, and morals of the community Signup and view all the answers