quiz1-2 - en Grade 17 mins 35 secs 8 out of a maximum of 10...

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en 17 mins 35 secs Grade 8 out of a maximum of 10 ( 80 %) Question 1 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 2 Marks: 1 An equitable tax system is a fair tax system. Answer: True False Incorrect Marks for this submission: 0/1. Question 3 Marks: 1 Tax avoidance can be the sole business purpose for a transaction. Answer: True False Every transaction must have a business purpose. Tax avoidance is not a business purpose. Correct Marks for this submission: 1/1. Question 4 Marks: 1 All U.S. taxes are based on an individual's income. Answer: True False No, there are also excise and customs taxes. The income tax is but one tax that is used. Correct Marks for this submission: 1/1. Question 5 Marks: 1 Since 1980, the group of taxpayers whose tax burden has increased the most is: Choose one answer. a. Individuals
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quiz1-2 - en Grade 17 mins 35 secs 8 out of a maximum of 10...

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