Quiz1 - Marks 1 Revenue legislation begins in the Senate Answer True False It begins in the House of Representatives Correct Marks for this

Info iconThis preview shows pages 1–4. Sign up to view the full content.

View Full Document Right Arrow Icon
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
Marks: 1 Revenue legislation begins in the Senate. Answer: True False
Background image of page 2
It begins in the House of Representatives. Correct Marks for this submission: 1/1. Question 2 Marks: 1 Most state and local property taxes use a single tax rate, making them a type of ad valorem tax. Answer: True False This would not be an example of an ad valorem tax but a proportional tax. Correct Marks for this submission: 1/1. Question 3 Marks: 1 Property taxes can be imposed on: Choose one answer. a. real estate. b. tangible property. c. intangible property. d. both a and c. e. all of the above. Property taxes can be imposed on real estate, tangible and intangible property. Correct Marks for this submission: 1/1. Question 4 Marks: 1 The value-added tax is an example of an indirect tax that is similar to sales taxes. Answer: True False Correct Marks for this submission: 1/1. Question 5 Marks: 1 The most popular form of doing business in the United States is: Choose one answer. a. Corporate form
Background image of page 3

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
Image of page 4
This is the end of the preview. Sign up to access the rest of the document.

This note was uploaded on 09/15/2011 for the course INCOME TAX 4404 taught by Professor Bulie during the Spring '11 term at University of Minnesota Duluth.

Page1 / 5

Quiz1 - Marks 1 Revenue legislation begins in the Senate Answer True False It begins in the House of Representatives Correct Marks for this

This preview shows document pages 1 - 4. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online