Ch 1 Quiz - Chapter1Quiz

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Chapter 1 Quiz  1.   Which of the following characteristics would  not  be used to describe the generic nature of a "tax"? a. Normally, there is a direct relationship between the exaction of revenue and the benefits  received by the taxpayer. b. A tax is levied on the basis of predetermined criteria. c. A tax is levied on the basis of recurring periods. d. A tax may be distinguished from a penalty because it is not specifically designed to  control or stop a particular activity. e. At least in the United States, taxes are often used to meet certain social as well as  economic goals.  2.  Which one of the following statements is  not  true concerning tax rates? a. A proportional tax rate is one in which an increasing percentage rate is applied to  increasing increments of the tax base. b. The marginal tax rate of any rate structure is that percentage at which the next dollar  added to the tax base will be taxed. c.
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This note was uploaded on 03/25/2010 for the course ACCT 402 taught by Professor Toleno during the Spring '10 term at Providence College.

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Ch 1 Quiz - Chapter1Quiz

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