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Indirect taxes include which of the following?
Corporation tax
Inheritance tax
Value added tax
Income tax
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Wrong!
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The following items are liable for amusement taxes.
Box office revenue for movie theaters
Professionally played basketball
Gross revenue for the circus
Carnival's overall sales
Correct!
Wrong!
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Which of the following policies uses taxes as a key tool?
Fiscal policy
Trade Policy
Economic Policy
Monetary policy
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Wrong!
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Which of the subsequent interest payments does a taxpayer's total income not include in their deductions?
Interest on a loan taken out to buy the taxpayer's primary home
Interest on a loan taken out to buy equipment that must be obtained for use in the taxpayer's business employment
Interest on a loan taken out to buy stock in an employee-owned business
Interest on a loan taken out to buy common shares in a small business
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Wrong!
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The mandated time frame for tax collection is:
5 years after the assessment's publication
If there is no assessment, 10 years after it is discovered that a return was not filed, was false, or was fraudulent.
Both of the above
None of the above
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Which of the following sources of income doesn't have a specific tax exemption?
Amounts received from individual savings accounts
Any form of reward that a company gives their staff
Earning potential for National Savings Certificates
Legal redundancy pay
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Excise taxes include all of the following, with the exception of:
Gasoline Taxes
Property Taxes
Cigarette Taxes
Alcohol Taxes
Correct!
Wrong!
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