The three major taxes governments use to generate revenue are

A. income tax, property tax, and sales tax.
B. VAT, income tax, and withholding tax.
C. sales tax, VAT, and income tax.
D. property tax, VAT, and sales tax.


Answer: B

Business

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Indicate whether the statement is true or false

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Tim, who is a minor, enters into a contract with Violet, who is an adult. Which of the following is correct?

a. Violet may not disaffirm the contract. b. Violet may disaffirm the contract at any time. c. Violet may disaffirm the contract when Tim becomes an adult. d. Tim may ratify the contract at any time during his minority.

Business

On January 1, Year 1, Strang Incorporated issued bonds with a face value of $500,000, a stated rate of interest of 8%, and a 5-year term to maturity. The effective rate of interest was 10%. Interest is payable in cash on June 30 and December 31 of each year. Which of the following statements is true?

A. This bond was issued at a discount, and the annual interest expense is $40,000. B. This bond was issued at a discount, and each semiannual cash payment is $20,000. C. This bond was issued at a premium, and the annual interest expense is $40,000. D. This bond was issued at a premium, and each semiannual cash payment is $25,000.

Business

Companies that provide users with access to the Internet through NSP POPs are called ____ service providers.

A. Internet B. Web C. Personal D. Communication

Business